• Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI SuperconnectorNEW
  • Settings
  • RSS Feeds
Quantisnow Logo
  • Live Feeds
    • Press Releases
    • Insider Trading
    • FDA Approvals
    • Analyst Ratings
    • Insider Trading
    • SEC filings
    • Market insights
  • Analyst Ratings
  • Alerts
  • Subscriptions
  • AI SuperconnectorNEW
  • Settings
  • RSS Feeds
PublishGo to AppAI Superconnector
    Quantisnow Logo

    © 2025 quantisnow.com
    Democratizing insights since 2022

    Services
    Live news feedsRSS FeedsAlertsPublish with Us
    Company
    AboutQuantisnow PlusContactJobsAI superconnector for talent & startupsNEWLLM Arena
    Legal
    Terms of usePrivacy policyCookie policy

    HyreCar Announces $100 Million Revolving Line of Credit From a Premier Global Investment Bank and Medalist Partners; Anticipates Significant Fleet Growth

    9/6/22 7:00:00 AM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary
    Get the next $HYRE alert in real time by email

    LOS ANGELES, Sept. 06, 2022 (GLOBE NEWSWIRE) -- HyreCar Inc. (NASDAQ:HYRE), the leader in carsharing for rideshare and food/beverage delivery, announced today an agreement with a premier global investment bank and Medalist Partners for a $100 million warehousing line of credit. The global investment bank will provide primary financing with Medalist Partners providing $20 million of additional financing. Under the agreement, HyreCar's fleet operator partner, AmeriDrive Holdings, LLC, will use this facility to purchase vehicles for exclusive listing on the HyreCar platform through a bankruptcy-remote joint venture.

    Through this initial warehousing line, HyreCar expects AmeriDrive to add an additional 6,000 to 7,000 vehicles over the next 12 to 18 months to the HyreCar platform. These vehicle assets will serve as collateral under the facility. As previously indicated, the company expects this line to begin a broader facility expansion into white-labeling vehicle financing for HyreCar's fleet operators.

    "While the HyreCar platform has consistently generated upwards of 30,000 driver leads every month, our bottleneck to growth has always been constrained by car supply. This partnership with Medalist, in conjunction with a premier investment bank, is the start of the next chapter for HyreCar's growth as we seek to address the chronic shortage of drivers and cars for rideshare and delivery companies in North America," said Joe Furnari, CEO of HyreCar. "We continue to expect to be profitable at the 6,500 to 7,000 daily car rental threshold, and we believe this deal will allow us to exceed that number. As a reminder, every 10,000 active rented cars on the HyreCar platform represents approximately $100 million in run rate revenue."

    "We are excited to provide asset-backed financing solutions to innovative companies in the EV and alternative transportation space," said John Slonieski, Director of Private Credit and Partner at Medalist Partners. "We view the space as a multibillion-dollar opportunity and believe that HyreCar is uniquely positioned to deliver on continued growth in enabling drivers in this space."

    HyreCar remains focused on growing responsibly by expanding into new markets and aligning geographically with premier rideshare and delivery partners in the United States. The initial warehousing line strengthens HyreCar's strategic partnership with AmeriDrive. This partnership includes exclusivity of AmeriDrive vehicles on the HyreCar platform that, in tandem with the line of credit, favorably positions the two companies to achieve meaningful and rapid scale. The company believes that the AmeriDrive collaboration is a model for how the HyreCar platform can remain asset-light and not carry vehicles on its balance sheet even as it builds, integrates, and manages future partnerships with fleet operators across the country.

    Joe Furnari, CEO and Serge De Bock, CFO, will host a conference call at 4:30 p.m. ET on Wednesday, September 7, 2022. Following management's formal remarks, there will be a question-and-answer session.

    To listen to the conference call, interested parties within the U.S. should dial 1-866-777-2509 (domestic) or 1-412-317-5413 (international). All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the HyreCar Inc. conference call. Participants can register for the conference by navigating to https://dpregister.com/sreg/10170921/f45cb1a85d. Please note that registered participants will receive their dial in number upon registration.

    The conference call will also be available through a live webcast that can be accessed at https://event.choruscall.com/mediaframe/webcast.html?webcastid=L2YbspNf. The webcast replay will be available for three months and can be accessed through the above links.

    About HyreCar

    HyreCar Inc. (NASDAQ:HYRE) is a national carsharing marketplace for ridesharing, food, and package delivery via its proprietary technology platform. The Company has established a leading presence in Mobility as a Service (MaaS) through individual vehicle owners, dealers, rental agencies, and OEMs that wish to participate in new mobility trends. By providing a unique opportunity through our safe, secure, and reliable marketplace, HyreCar is transforming the industry by empowering all to profit from Mobility as a Service. For more information, visit hyrecar.com.

    About AmeriDrive

    AmeriDrive is a (MaaS) Mobility as a Service company with one of the largest private subscription fleets in North America and a presence in multiple states. AmeriDrive serves gig-economy customers for rideshare and delivery car rentals using the HyreCar platform exclusively. AmeriDrive is expanding within the current markets it serves and opening new locations across the nation. Learn more about AmeriDrive at www.ameridrive.com.

    Forward-Looking Statements

    Statements in this release concerning HyreCar Inc.'s ("HyreCar" or the "Company") future expectations and plans, including, without limitation, HyreCar's future earnings, partnerships and technology solutions, its ability to add and maintain additional car listings on its platform from car dealers, and consumer demand for cars to be used for ridesharing, may constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995 and other federal securities laws and are subject to substantial risks, uncertainties and assumptions. You should not place reliance on these forward-looking statements, which include words such as "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" or similar terms, variations of such terms or the negative of those terms. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, the Company cannot guarantee such outcomes. HyreCar may not realize its expectations, and its beliefs may not prove correct. Actual results may differ materially from those indicated by these forward-looking statements as a result of various important factors, including, without limitation, market conditions and the factors described in the section entitled "Risk Factors" in HyreCar's most recent Annual Report on Form 10-K and HyreCar's other filings made with the U. S. Securities and Exchange Commission. All such statements speak only as of the date made. Consequently, forward-looking statements should be regarded solely as HyreCar's current plans, estimates, and beliefs. Investors should not place undue reliance on forward-looking statements. HyreCar cannot guarantee future results, events, levels of activity, performance, or achievements. HyreCar does not undertake and specifically declines any obligation to update, republish, or revise any forward-looking statements to reflect new information, future events, or circumstances or to reflect the occurrences of unanticipated events, except as may be required by applicable law.

    Investors: 

    Scott Arnolds

    CORE IR

    [email protected]

    Media: 

    Allie Potter

    Skyya PR for HyreCar

    [email protected]



    Primary Logo

    Get the next $HYRE alert in real time by email

    Crush Q3 2025 with the Best AI Superconnector

    Stay ahead of the competition with Standout.work - your AI-powered talent-to-startup matching platform.

    AI-Powered Inbox
    Context-aware email replies
    Strategic Decision Support
    Get Started with Standout.work

    Recent Analyst Ratings for
    $HYRE

    DatePrice TargetRatingAnalyst
    11/10/2021$15.00 → $10.50Neutral → Buy
    Ladenburg Thalmann
    11/10/2021$22.00 → $16.00Buy
    DA Davidson
    8/11/2021$25.00 → $22.00Buy
    DA Davidson
    8/11/2021$14.00 → $15.00Buy → Neutral
    Ladenburg Thalmann
    7/22/2021$25.00Buy
    DA Davidson
    More analyst ratings

    $HYRE
    Analyst Ratings

    Analyst ratings in real time. Analyst ratings have a very high impact on the underlying stock. See them live in this feed.

    View All

    HyreCar upgraded by Ladenburg Thalmann with a new price target

    Ladenburg Thalmann upgraded HyreCar from Neutral to Buy and set a new price target of $10.50 from $15.00 previously

    11/10/21 7:56:58 AM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    DA Davidson reiterated coverage on HyreCar with a new price target

    DA Davidson reiterated coverage of HyreCar with a rating of Buy and set a new price target of $16.00 from $22.00 previously

    11/10/21 4:42:48 AM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    DA Davidson reiterated coverage on HyreCar with a new price target

    DA Davidson reiterated coverage of HyreCar with a rating of Buy and set a new price target of $22.00 from $25.00 previously

    8/11/21 11:25:35 AM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    $HYRE
    Press Releases

    Fastest customizable press release news feed in the world

    View All

    Getaround Closes Acquisition of HyreCar Assets

    Symbiotic transaction accelerates path to profitability and fortifies Company's carsharing leadership position Getaround (NYSE:GETR), the world's first connected carsharing marketplace, today announced the Company has closed on its acquisition of substantially all of the assets of HyreCar (OTC:HYRE), a premier gig carsharing marketplace. The transaction is expected to contribute up to $75 million of run-rate annualized Gross Booking Value and to contribute positive Adjusted EBITDA, accelerating Getaround's path to profitability. Adjusted EBITDA is a non-GAAP financial measure, as further described under "About Non-GAAP Financial Measures'' below. Getaround has acquired substantially all

    5/16/23 5:45:00 PM ET
    $GETR
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    HyreCar Cancels Special Meeting of Stockholders

    LOS ANGELES, Feb. 28, 2023 (GLOBE NEWSWIRE) -- HyreCar Inc. (OTC:HYRE) ("HyreCar" or the "Company") today announced cancellation of its virtual special meeting of stockholders that was scheduled for March 21, 2023. The proposals set forth in the Company's Preliminary Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on February 1, 2023 will not be submitted for the consideration of stockholders. About HyreCar HyreCar Inc. (OTC:HYRE) is a national carsharing marketplace for ridesharing, food, and package delivery via its proprietary technology platform. The company has established a leading presence in Mobility as a Service (MaaS) through individual vehicle

    2/28/23 7:05:00 AM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    HyreCar to Facilitate Sale of Business Through Voluntary Chapter 11 Process, Announces Leadership Changes

    Continues to operate and meet owner and driver needs for a gig-focused digital carsharing marketplace Receives commitment for $5 million in debtor-in-possession financing LOS ANGELES, Feb. 27, 2023 (GLOBE NEWSWIRE) -- HyreCar Inc. (OTC:HYRE) ("HyreCar" or the "Company"), today announced that it voluntarily initiated a Chapter 11 proceeding in the United States Bankruptcy Court for the District of Delaware ("Bankruptcy Court") case number 23-10259. The Company has filed various "first day" motions with the Bankruptcy Court requesting customary relief that will enable it to transition into Chapter 11 without material disruption to its ordinary course operations, including paym

    2/27/23 7:05:00 AM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    $HYRE
    SEC Filings

    View All

    SEC Form SEC STAFF ACTION filed by HyreCar Inc.

    SEC STAFF ACTION - HC LIQUIDATING, INC. (0001713832) (Filer)

    12/5/23 3:00:02 PM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    HyreCar Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Completion of Acquisition or Disposition of Assets, Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year, Financial Statements and Exhibits

    8-K - HC LIQUIDATING, INC. (0001713832) (Filer)

    5/22/23 5:16:09 PM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    SEC Form 25-NSE filed by HyreCar Inc.

    25-NSE - HyreCar Inc. (0001713832) (Subject)

    4/12/23 8:50:12 AM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    $HYRE
    Insider Trading

    Insider transactions reveal critical sentiment about the company from key stakeholders. See them live in this feed.

    View All

    SEC Form 4: Iniguez Vazquez Eduardo was granted 45,000 shares, increasing direct ownership by 56% to 125,000 units

    4 - HyreCar Inc. (0001713832) (Issuer)

    11/23/22 4:02:39 PM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    SEC Form 4: Allan Brian covered exercise/tax liability with 2,622 shares, decreasing direct ownership by 2% to 141,061 units

    4 - HyreCar Inc. (0001713832) (Issuer)

    11/1/22 4:06:17 PM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    SEC Form 3: New insider Iniguez Vazquez Eduardo claimed ownership of 80,000 shares

    3 - HyreCar Inc. (0001713832) (Issuer)

    10/6/22 1:15:26 PM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    $HYRE
    Leadership Updates

    Live Leadership Updates

    View All

    Sibros Appoints Automotive Technology Leader Jay Vijayan to Advisory Board

    SAN JOSE, Calif., July 14, 2021 (GLOBE NEWSWIRE) -- Sibros, a pioneer of deep Over-the-Air (OTA) connected vehicle systems, today announced it has appointed automotive and technology industry powerhouse, Jay Vijayan to its advisory board. Jay is the former Chief Information Officer of Tesla and is currently Founder and Chief Executive Officer of Tekion, an innovative, hyper-growth technology unicorn serving the automotive retail industry. The appointment comes at a pivotal moment for Sibros as the company continues to build out its best-in-class technology infrastructure and solutions, enabling automotive OEMs direct insight into vehicle health, empowering them with the right tools to mak

    7/14/21 7:00:00 AM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    $HYRE
    Financials

    Live finance-specific insights

    View All

    HyreCar Announces Financial Results and Highlights for the Third Quarter 2022

    LOS ANGELES, Nov. 14, 2022 (GLOBE NEWSWIRE) -- HyreCar Inc. (NASDAQ:HYRE), the carsharing marketplace for ridesharing and food and package delivery services, today reported financial results and provided a corporate update for the third quarter ended September 30, 2022. Third Quarter 2022 Highlights The company's joint venture with AmeriDrive, HyreDrive LLC, has deployed over $20 million from the $100 million warehousing line, resulting in over 1,200 new cars purchased dedicated to the HyreCar platformAmeriDrive expects to add an additional 2,000 cars to the HyreCar platform in the next six to nine monthsDriver demand continued to increase, with new driver signups increasing 14% with cos

    11/14/22 4:32:26 PM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    HyreCar to Report Third Quarter 2022 Financial Results and Provide Corporate Update

    LOS ANGELES, Nov. 07, 2022 (GLOBE NEWSWIRE) -- HyreCar Inc. (NASDAQ:HYRE), the carsharing marketplace for ridesharing and food and package delivery services, today announced plans to release its third quarter 2022 financial results on Monday, November 14, 2022 immediately following the close of market. The call will be hosted by Joe Furnari, Chief Executive Officer, and Eduardo Iniguez, interim Chief Financial Officer. Following management's formal remarks, there will be a question-and-answer session. To listen to the conference call, interested parties within the U.S. should dial 1-866-777-2509 (domestic) or 1-412-317-5413 (international). All callers should dial in approximately 10 min

    11/7/22 7:00:00 AM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    HyreCar Announces $100 Million Revolving Line of Credit From a Premier Global Investment Bank and Medalist Partners; Anticipates Significant Fleet Growth

    LOS ANGELES, Sept. 06, 2022 (GLOBE NEWSWIRE) -- HyreCar Inc. (NASDAQ:HYRE), the leader in carsharing for rideshare and food/beverage delivery, announced today an agreement with a premier global investment bank and Medalist Partners for a $100 million warehousing line of credit. The global investment bank will provide primary financing with Medalist Partners providing $20 million of additional financing. Under the agreement, HyreCar's fleet operator partner, AmeriDrive Holdings, LLC, will use this facility to purchase vehicles for exclusive listing on the HyreCar platform through a bankruptcy-remote joint venture. Through this initial warehousing line, HyreCar expects AmeriDrive to add an

    9/6/22 7:00:00 AM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    $HYRE
    Large Ownership Changes

    This live feed shows all institutional transactions in real time.

    View All

    SEC Form SC 13G/A filed by HyreCar Inc. (Amendment)

    SC 13G/A - HyreCar Inc. (0001713832) (Subject)

    2/14/23 2:44:31 PM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    SEC Form SC 13G/A filed by HyreCar Inc. (Amendment)

    SC 13G/A - HyreCar Inc. (0001713832) (Subject)

    2/14/23 2:10:26 PM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary

    SEC Form SC 13G/A filed by HyreCar Inc. (Amendment)

    SC 13G/A - HyreCar Inc. (0001713832) (Subject)

    2/3/23 2:41:55 PM ET
    $HYRE
    Rental/Leasing Companies
    Consumer Discretionary