GoMore announced a €5 million backed by the Swiss insurance company Baloise.

Gomore, a Copenhagen, Denmark-based company providing carpooling, peer-to-peer car rental, and private car leasing services, announced completing a capital raise of around €5 million ($6M).

The money was raised from Bâloise Holding AG, the third largest Swiss all-industry insurance service provider for individuals and businesses.

Later edit: the total raise was €7.3 million ($8.7M), as existing shareholders also contributed with €1.3M.

Proceeds of the investments will be used to further fuel GoMore's already rapid growth and accelerate its planned expansion into additional European countries.

Gomore, founded in 2011 and led by Matias Møl Dalsgaard, built a car-sharing business, with more than 2.6 million members in Denmark, Sweden, Finland and Spain.

The company says that a private rental car with its keyless-technology installed is on average shared among 12 families via the app - as GoMore enables its members to share private cars through car rental and ridesharing options. Many of the cars are also available to lease at low cost.

These offerings will also complement the current services within the Mobility ecosystem provided by Baloise's existing partners such as Mobly, Gowago, Ben Fleet Services, Stratos, Drivolution and aboDeinauto.

Gomore previously raised $5.4M in 2017, from investors including Macif, Polar Light Capital and Seed Capital.