Brazilian motorcycle rental startup Mottu revs up with $40M to help more Latin Americans become couriers
Mottu, a São Paulo-based motorcycle rental startup, has raised $30 million in equity in a Series B round of funding, and also had secured $10 million in debt financing. Mottu started operations in early 2020 with a fleet of 200 motorcycles in its home city of São Paulo. By year’s end, it was up to 1,000 motorcycles and $2 million in annual recurring revenue (ARR). Today, the startup operates in eight Brazilian cities and Mexico City with a fleet of 10,000 motorcycles.