How Turo Improves

Financial Oversight at Scale

As the company scales its global
operations and enhances corporate
governance, its finance team needed
a way to strengthen financial controls,
improve visibility, and detect issues earlier
without slowing down the business.

The Challenge: Managing Financial Risk in a High-Volume Environment

Turo, the world’s largest car-sharing marketplace, processes
millions of transactions every month across a two-sided
marketplace connecting vehicle owners and guests.

This scale creates significant operational complexity. As the latestage private company matures its financial infrastructure, the need
for strong internal controls and accurate reporting has increased.

The revenue accounting team faced several challenges.

High transaction volume made manual review impractical, and issues
often surfaced late during audits. At the same time, new product features
introduced accounting edge cases and customer service adjustments
across a large number of reservations created additional risk.

The team sought to increase the granularity of their review
process to match the accelerating pace of new product launches.
They needed a way to detect issues earlier and strengthen
financial controls across their growing transaction volume.

“We have millions of transactions and don’t have
the time to dig into each one to identify issues.”
— Fernando Cortés

“With the business moving
so quickly, we often didn’t
know what we didn’t know.”

Real-World Example:

Catching Issues Early

When Turo introduced non-refundable
trips for the first time, initial testing
showed everything working as expected.
MindBridge AI quickly identified a small
subset of transactions where revenue
ecognition was processed incorrectly.
Although a small number of transactions
were affected, the platform’s scale meant
the potential impact could grow rapidly.
Early detection allowed the team to
pinpoint the affected transactions,
quantify the financial impact and work
with engineering to resolve the issue
before it became material.

The Solution:

Using AI to Detect Financial Anomalies

Turo implemented MindBridge AI to analyze financial
revenue transactions and flag anomalies across the full
dataset, not just samples.

Unlike LLMs and traditional analytics tools, MindBridge AI is designed
specifically for finance teams, enabling accountants to use AI without
relying on data science resources.

Today, the team analyzes millions of rows of data each month as part of
their close process and can quickly identify high-risk transactions. The
insights generated by MindBridge AI provide early warning signals into the
company’s financial health. Turo has moved from reactive to proactive by
catching potential revenue recognition issues, customer service errors,
and accounting inconsistencies in new product launches.

“MindBridge was built for finance professionals.
We don’t need a data science team to maintain it.”
— Fernando Cortés

The Outcome: From Hidden Issues to Proactive Insight

In less than three months, Turo has improved financial
oversight across its marketplace transactions.

By analyzing millions of transactions each month, the team has identified
numerous financial and operational insights that would have otherwise
gone undetected.

These findings have translated into substantial operational efficiencies and
revenue integrity improvements, spanning both revenue recognition and
operational issues such as overpayments or incorrect adjustments.

The team can quickly identify high-risk activity, understand the root cause,
and take action. This has improved the accuracy of financial reporting
while also uncovering operational issues that impact their guests and
hosts. They now have a more proactive, risk-focused approach that keeps
pace with the scale and speed of the business.

“MindBridge allows us to move quickly as a business
without sacrificing accuracy or financial controls.”
— Fernando Cortés

As Turo continues scaling globally and enhance its financial operations
and control environment, AI-driven financial oversight will remain a
critical component.

Looking ahead

If you are looking for new ways of doing business and leveraging
technology to improve how you conduct complex audits, reach
out to the MindBridge AI team today.

Contact us at hello@mindbridge.ai or book a demo.

Contact us at hello@mindbridge.ai or book a demo.