NextCar, a car rental startup formed by TrueCar and Fair founder Scott Painter, has raised about $30 million in seed funding from investors like Reid Hoffmann and Mark Pincus, per an internal email obtained by Axios. The round was led by a private equity firm, according to a source.

Backstory: Shortly before Painter announced his new company in October, Reuters reported that he was exploring ways to buy Fair back from SoftBank Vision Fund and other backers. He resigned as CEO in October 2019.