Peer-to-peer car rental company, RelayRides has raised additional $10 million, in a Series B round led by Trinity Ventures.
In June 2014, the company raised $25 million in Series B round from venture firms Canaan Partners, August Capital, Google Ventures and Shasta Ventures.
This additional (and quick) capital raise hints the interest level among investors in RelayRides. The total investment in the company now stands at $54 million.
This new capital will be used to expand the company's airport (SFO) rental business to multiple airports in the US in the "coming months".
RelayRides is a marketplace for car owners to let their cars for rent, and for renters to select a car of their choice from the marketplace for a fee. The cars can be rented for hours, weeks or months.
The company also announced a revised price structure that will enable car owners (who give their cars for rent) to earn more than before, and for car renters to pay less than before.
For long duration rentals, car owners can now earn upto $600 per month, depending on the type of car and make-year of the car. For short duration rentals, car owners can earn upto $0.4 per mile, depending on the type of car and make-year of the car.
On the other side, a car can now be rented for (starting from) $10 per day in SFO, the company claims this as the lowest in SFO.
Competitors of RelayRides in the US include FlightCar and GetAround.