Cresco acted as lead counsel to Luxembourg based UFODRIVE in the structuring and negotiation of its US$19 million Series A round and strategic collaboration with Hertz. The financing round was co-led by Hertz and Certares, in partnership with Knighthead Capital Management, and included participation from existing investors.
UFO Drive is the first all-digital, all-electric car rental service controlled from an app.
Its advanced eMobility SaaS Platform makes transitioning to electric easy for both customers and fleet providers – delivering lean operations, lower energy costs, better charging and optimal fleet utilization using advanced AI tools.
Hertz aims to deploy UFODRIVE’S market-leading digital rental and fleet management technology to enhance its global EV fleet operations. Starting with Hertz’s key partners in the U.S. and Europe, this will offer a fully digital rental experience, charge point wayfinding, touchless smartphone access and online customer support with live telematics using UFODRIVE’s SaaS platform.
David Dessers led the Cresco team that advised UFODRIVE in this transaction.
For any further information or questions, please contact David Dessers.