Kyte, which billed itself as the ‘best competitor to Hertz,’ shuts down

Kyte startup Rental Car closed almost a year after lowering employees and leaving most of its cities in the United States. The company sold its customer list to Turro in July, then turned right and entered in a form of judicial guard in California, according to a notice that came out to Cyte Controls.

Kate failed some of her loans earlier this year, according to the notice. This caused the best lender in the company to deliver the Kyte vehicle fleet.

The notice shows that the KYTE Board of Directors “Follow -up of various capital solutions” to maintain the company alive, as stipulated in the notification. However, the company was not able to manufacture financing and the vote of the Board of Directors for the retreat of Kitty.

While Kyte transferred its customer list to Turro, a number of users who made trips before the closure complained that they were stuck while waiting for the recovered amounts of hundreds of dollars.

Some who spoke to Techcrunch said they were able to obtain their credit card companies to perform fees, while others were not lucky. Nikolaus Volk, CEO of Kyte Techcrunch, told a letter that fees may be the fastest way to customers to recover this money.

Founded in 2019, Kyte provided on -request rental cars that were also delivered to customer homes. She dominated her fleet of vehicles, making her a little more similar to Zipcar and less like peer offers to a counterpart for players such as Turo. KYTE grew into 14 markets and raised more than $ 300 million in financing over its life, and began to issue bills as “the best competitor to Qurtz”.

Falkcrunch said last year that the company began to disintegrate in 2024. Kate was struggling to generate a free cash flow in markets such as Atlanta, Chicago, Boston and Washington, DC, that his team explored the sale of business, but decided to restructure and focus on reaching profits in the largest markets in San Francisco and New York City.

KYTE is not the only emerging company in this sector that faces a problem – especially in the United States. Getaround, another vehicle rental service, closed its American operations in February this year to focus on its European works. The founder of Truecar Scott Painter investigated away from vehicle subscriptions in 2024 after struggling to build a company called autonomy.