Uber will invest in Galgo, a Latin American lender focused on motorcycle purchases, as the ride-hailing giant looks to expand access to vehicles for drivers and couriers.
Partnership Details
The partnership will start in Mexico before expanding to Chile and Colombia in the first quarter of 2027. Galgo provides motorcycle sales and financing to mass-market customers, including borrowers with limited access to traditional bank credit.
The investment will fund expansion into a fourth Latin American country in early 2027 and contribute to spending on technology, data, and artificial intelligence. Co-founder and co-Chief Executive Sebastian Parot said the company aims to grow annualized revenue to $500 million by 2030 from about $100 million now.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
