Fair Gets $385m from SoftBank for Uber Car-leasing Portfolio

A lot of things are happening in the world of the shared-economy. Car sharing and car leasing are one of those “many things”. Fair, a company that acquired Uber’s car leasing portfolio is now planning to go global.

And why wouldn’t it? Whether you know it or not, chances are that every time you lease a car, you are actually using fair. If you are not, though, you can easily familiarize yourself with the fact. SoftBank and the venture capital initiative backed by the bank are looking to make sure that Fair and Uber can provide people with excellent options for the future of car leasing.

So with Uber’s fleet of vehicles (some of which will be self-driving) and Fair’s own business acumen, this seems like a match made in heaven. The fact that SoftBank just invested $385 million alongside other investors is a sure-fire sign that things are going truly global for the Fair-Uber alliance.

Expanding on an international scale is always a challenge, but Uber is no stranger to being met with hostility. Where Uber has been calloused by the long drawn-out fights with French syndicates and attacks on its drivers all over the world, Fair comes in with technical solutions and the sort of enthusiasm that comes with the fact that you don’t have to bear the brunt of people’s discontent (meaning Uber’s attack on the taxi industry).

It’s simple as that. Fair will be launching its app international. The money will have to be divvied up carefully, because the platform and hail-service will have to turn profit quick to reassure investors.

And yet, no investor would actually decide to commit $400 million (or thereabouts) if they didn’t think that the venture will be successful in the first place.

The leasing price at fair ranges, but you can pick vehicles as cheap as $100 a month and go all the way up to $450 and into some truly luxurious segments that you will not want to damage. Fair’s platform is also exceptionally useful as it will provide you with a number of useful statistics that will help you better understand which car to pick.

It’s always helpful to know the fuel consumption for example and Fair doesn’t leave any such details out, which boosts user confidence into the product.

Uber started as a start-up capital firm but it transitioned into a disruptive force and a game-changer for many industries indeed. The fact that it’s partially a merger firm through its partnerships with Fair doesn’t detract of its potency. If anything, it highlights it which is always a good thing. Uber will be changing much more indeed in the years to come.

The companies will benefit from the interest of car makers such as BMW and Mercedes which have already invested in other related activities part of the companies’ activities. In fact, Fair added $1 billion in October – an eye-popping sum indeed. Need to rent a car? Look no further!

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