VMAC Holdings Announces New $5 Million Line of Credit Facility

VMAC Holdings LLC, a national owner and operator of rideshare, microtransit, and Transportation as a Service fleets, today announced the closing of a $5 million line of credit facility with Mercedes-Benz Financial Services USA LLC, a leading, captive financial services provider within the Daimler Mobility AG group of companies.

VMAC, through its various national operating subsidiaries, intends to use the facility primarily to fund expansion of its Mercedes Metris microtransit and Transportation as a Service projects in cities across the United States. Grant E. Stark, CFA, Co-Owner and Chief Operating Officer of VMAC Holdings, commented, "We are pleased to have Daimler as a strategic partner. Their support allows VMAC to continue its tremendous growth trajectory in highly efficient on demand network projects that improve the commute for millions."

Julian Gonzalez, General Manager of Mercedes-Benz Silver Star Motors stated, "This transaction signals a strengthening relationship with Mercedes-Benz, and we will continue to provide a high level of service as VMAC requires additional supply."

About VMAC Holdings

VMAC Holdings, through its various operating subsidiaries, is a leader in fleet ownership and management that supports re-engineering of public transit. VMAC's technology and operations are deployed in markets nationally through traditional rideshare applications and partner projects with public transportation agencies. First launched in October 2014 in New York City, VMAC has grown to one of the largest owners and operators of Mercedes Metris vehicles. VMAC pursues leadership in highly efficient on demand network fleets.

For more information please visit www.vmacllc.com.      

Media Contact, Ali Abourach, 646.798.5969, drive@vmacllc.com