Car-rental startup Virtuo has raised €20 million in Series B funding.
Iris Capital, Raise Ventures and Balderton Capital all participated in the round for the Paris-based digital car-rental business.
Virtuo launched two years ago and has raised about €30 million, including a €7.5 million round in September 2017.
The latest funds will go towards expanding its smartphone-based concept across Europe.
The company provides travelers with a digital car-rental experience via its app, which enables them to book, pick up and return cars using scanned driving licenses and digital keys.
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Virtuo currently has 30 rental stations located in city centers, train stations and airports across France, Belgium and the United Kingdom.
The plan is to launch in Spain and Germany in 2019 with wider expansion to the United States also being considered.
The company will also invest in new functionality as well as triple the size of its fleet to 3,000 cars by the end of the year.