Hertz-backed Oro Mobility has secured an $80 million strategic equity investment to expand its fleet operations across rideshare rentals, professionally managed driver services and autonomous vehicles. Hertz announced the funding on October 20, positioning Oro as a standalone growth business.
The investor group includes Cohen Private Ventures and funds or accounts affiliated with Certares Opportunities and Knighthead Capital Management. A regulatory filing shows the investors acquired 50% of voting rights and roughly 15.9% of economic rights. Hertz retains majority economic ownership, so the transaction is not an outright sale.
Oro operates approximately 45,000 vehicles across major U.S. mobility markets, according to Hertz. That total spans its different business lines; it is not a count of driverless cars. The company’s role covers owning, operating and maintaining fleets alongside technology providers and ride-booking platforms.
Hertz says the capital will support fleet expansion, operating infrastructure, technology, hiring and strategic partnerships. It will continue supporting Oro as its fleet and corporate services partner. The announcement does not set a timetable for new passenger services or identify additional operating cities.
The investment underlines the importance of fleet operators as ride-hailing evolves. We have covered a similar division of responsibilities in Madrid’s robotaxi plans, where separate companies provide the booking platform, driving technology and local operations. Oro’s funding targets that operational layer, rather than announcing a new consumer booking app.
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