“Can Turo become the financial and operational OS for car-sharing entrepreneurs by embedding financing, insurance, and payments into its host platform?”
Founded in 2009 as RelayRides in Boston, Turo rebranded in 2015 and positioned itself as the 'Airbnb for cars.' The company scaled peer-to-peer car sharing across the US and into Canada, UK, Australia, and France. After filing for an IPO in 2022, slowing growth and market conditions kept it private; it ultimately withdrew its IPO filing in February 2025. In 2024, Turo moved to deepen its embedded finance stack by launching host-specific vehicle financing and off-trip insurance products, positioning itself as a financial platform for car-sharing entrepreneurs rather than just a booking marketplace.
Turo processes payments through Stripe.
Turo uses Stripe for FX and cross-border payouts.
Turo uses sift for fraud prevention.
The Embedded Finance Index 2026 maps 4 layers in Turo's stack: Payments / PSP (Stripe); Lending (Vehicle financing for Turo hosts (car loans, lines of credit, TRAC leases, refinancing) — up to $10M, Westlake Financial line of credit for Turo hosts (up to $1M) and United Leasing & Finance program for large-fleet hosts (40+ vehicles)); FX & payouts (Stripe); Fraud (sift).
Turo was founded by Shelby Clark and is founded in 2009, headquartered in San Francisco, California, USA.
Turo has raised ~$500M+ in total (latest round: IPO withdrawn, February 2025; valuation: $1B+ (2019 IAC investment implied)).
Get a read on where your own stack stands against Turo and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.