Inclusive Economy | September 19, 2023

Mottu raises $50 million for motorcycle rentals for Latin American gig workers

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, September 19 — São Paulo-based Mottu launched in 2020 to train, finance and insure motorbikes for gig delivery workers.

Last year, it built out a logistics platform to connect more than 50,000 couriers in 30 cities in Mexico and Brazil to restaurants, retailers and e-commerce businesses.

Mottu has raised $50 million in a Series C equity round to expand into commuter services.

“Mottu is changing the reality of millions of people who traditionally would have no credit and no way to start fighting for a better livelihood,” said Nigel Morris of QED Investors, which led the round alongside Bicycle Capital. Endeavor Catalyst and Caravela participated.