Car rental app Virtuo raises €7.5 million from Balderton Capital

French car rental mobile app Virtuo has raised €7.5 million in funding from Balderton Capital.

Virtuo provides its own fleet of cars deployed at airports and rail stations. The service is mobile-only where travellers book their car through the app. The app itself serves as the key for opening the car, eliminating the traditional car rental desk.

The company launched last year and operates in Paris and has since begun expanding around France. The new funds will be used to finance this growth in the country as well as in other European cities. According to the company, it has facilitated more than six million kilometres’ worth of journeys.

“With the money, we have raised we will be able to open new stations in France and in other European countries,” said the company’s founders in a statement. “In Balderton Capital and Bernard Liautaud we have found a financial partner whose advice and knowledge will be crucial to the next stage of our journey.”