Hertz Global Holdings Says Oro Mobility Secures $80M Strategic Equity Investment From Consortium Of Investors

Investment positions Oro to scale its platform across driver-led and autonomous mobility models

Hertz Global Holdings, Inc. (NASDAQ:HTZ) today announced that Oro Mobility has secured an $80 million strategic equity investment from a consortium of investors, including Cohen Private Ventures and certain funds or accounts affiliated with each of Certares Opportunities LLC and/or Knighthead Capital Management, LLC or an affiliate. This investment establishes Oro as a standalone growth platform, with the dedicated capital, talent, flexibility and strategic focus to scale across the evolving mobility ecosystem.

Built on Hertz's century of expertise in fleet operations, maintenance, logistics and asset management, Oro fills a critical gap in the transition from personal vehicle ownership to driver-led and autonomous fleets. Serving as the ownership, orchestration and operations layer, Oro connects vehicles, technology providers and consumer demand through a seamless operating platform. Today, Oro partners with leading mobility companies to deliver integrated solutions safely, reliably and at scale, operating approximately 45,000 vehicles across every major U.S. mobility market.

Hertz established Oro as part of its transformation strategy, leveraging its core capabilities and expertise to capture new opportunities for growth. Hertz will retain majority economic ownership of Oro and support the business as its fleet and corporate services partner, enabling Hertz to participate in Oro’s growth while Oro continues to benefit from Hertz’s operational capabilities and scale. The new capital will support the expansion of Oro’s fleet, operational infrastructure, technology capabilities, talent and strategic partnerships across rideshare rentals, driver-led fleet management and autonomous vehicle fleet management.