Getaround, a company that helps vehicle owners rent out their cars, trucks and SUVs to other peers, is shutting down its U.S. operations one year after cutting 30% of its North American workforce as part of a restructuring. Its HyreCar business, which it acquired in 2023 for $9.45 million, is also closing.
The company said in a Wednesday regulatory filing as well as in an email sent to U.S. customers it is now focused on its European business where it operates in six countries, including Norway, Spain, France, Germany, Belgium, and Austria.
The email, which TechCrunch has viewed, urged customers to return car rentals by the end of Wednesday to avoid any coverage gaps and said it is “at risk of no longer being able to provide liability insurance coverage in the U.S.”
“If you don’t, you may be personally responsible for ensuring it has the required liability insurance coverage,” the email reads. Getaround said its car protection program will no longer apply to any vehicle not returned by the end of the day, meaning customers would be responsible for any damages.
Getaround, which was founded in 2009 in San Francisco and was a TechCrunch Startup Battlefield finalist in 2011, has had a roller coaster history.
The company was a VC darling, raising more than $750 million from high-profile investors, including $300 million in a 2018 round led by Softbank Vision Fund. Other Getaround investors have included Menlo Ventures, PeopleFund, Reid Hoffman and Mark Pincus’ Reinvent Capital, and VectoIQ partners Steve Girsky, Mary Chan and Julia Steyn — to name a few.
Getaround used that money to expand into other cities and eventually Europe with its $300 million acquisition of Drivy and Norweigan car rental company Nabobil, both in 2019.
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