Getaround, a car-sharing platform founded in 2009, has announced it is ceasing operations in the US due to liquidity issues.

The company confirmed the closure of its HyreCar business, acquired in 2023 for US$9.45 million.

Customers in the US were instructed to return rented vehicles by Feb. 12 to maintain their insurance coverage, as liability for overdue vehicles falls on them.

Despite exiting the US, Getaround will continue its operations in six European countries, including France, Germany, and Norway.

The company raised over US$750 million in funding, including a US$300 million round led by SoftBank in 2018.

It went public via a SPAC merger in 2022 but struggled with financial difficulties, delisting warnings, and layoffs in 2023 and 2024.

On Feb. 7, its board approved an “orderly wind-down” of US operations, with all US employees being laid off, most by Feb. 14.

Costs for the shutdown are estimated between US$1.5 million and US$2 million.