LAVCA VC
  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA
  • Member Login
  • Member Access

LAVCA VC

  • News Feed
  • VC Data
  • Directories
  • Features
  • Tech Growth Coalition
  • LAVCA Gender Diversity
  • Engage
    • VC Council
    • VC Members
  • LAVCA

Creditas Leads BRL95m Round for Brazilian Electric Motorcycle Company Voltz

May 24, 2021
Creditas Invests in Voltz

Creditas led a BRL95m round for Voltz, a Brazilian electric motorcycle company, with participation from UVC, the CVC arm of Grupo Ultra.

(Yahoo Finance) Brazilian lending platform Creditas has invested 95 million reais ($17.85 million) in local electric motorcycle startup Voltz, the two companies said on Monday, making it a significant minority shareholder in the company.

For Softbank-backed Creditas, which is seeking to increase client revenue, the investment is a shift from its financial products business and opens the possibility of a new revenue stream.

For Voltz, the funding will help it to open a plant in Manaus, open more stores and have seed funding for a network of battery charging stations.

“We want to create a business model that helps people manage their assets and, in the case of motorcycles, we don’t want to be a part of the model of the past, of combustion,” Sergio Furio, Creditas’s founder and executive chairman, said.

Furio would not specify the implied valuation or the size of the stake it had acquired in Voltz.

He said he expects that over the next 5 to 10 years, only about 20% of Brazil’s motorcycle drivers will be using combustion engine models.

Voltz will also use the investment to work with Brazil’s Ultrapar Participacoes, the owner of the ubiquitous gas station brand Ipiranga.

The goal is to begin developing battery-charging stations to add to the Ipiranga infrastructure. But instead of clients waiting to charge the batteries, they would trade a used battery for a charged one.

“What we see is a business model where we sell and finance the motorcycle, and then rent the battery (to the client),” Furio said.

He expects this model could increase their revenue to more than 6,000 reais per year per client, from what he said is about 100 reais per year for standard digital banks. ($1 = 5.3228 reais) (Reporting by Marcelo Rochabrun; editing by Barbara Lewis)

Creditas Leads BRL95m Round for Brazilian Electric Motorcycle Company Voltz was last modified: June 1st, 2021 by cramos
BrazilCreditasGrupo UltraUVCVenture CapitalVoltz
0
Facebook Twitter Google +

Categories

  • Deals
  • Exits
  • Regulatory
  • M&A
  • New Funds & Firms
  • Partnerships

Sign up for LAVCA’s bi-weekly Latin American Private Capital Update and the LatAm Venture Bulletin, produced specifically for venture investors, entrepreneurs, and technology startups in the early stage ecosystem.






Which LAVCA Newsletter would you like to receive?

Tweets

  • #VC investment in #LatAm in 2022 reached USD7.5b, according to preliminary LAVCA data. Stay tuned for LAVCA’s yea… https://t.co/kAqAuL8Iq5

    23-Jan-2023

    Reply Retweet Favorite
  • January 20 is the last chance to register for "ESG in Venture and Tech Investing," the latest training in the LAVCA… https://t.co/UrbfcPgM7l

    19-Jan-2023

    Reply Retweet Favorite
  • Submissions for the 2023 LAVCA ESG Deal Awards are closing on January 20, 2023. LAVCA's ninth annual showcase will… https://t.co/AIu4FVKxT6

    11-Jan-2023

    Reply Retweet Favorite
  • Thank you for your continued support and commitment to grow private capital investment in Latin America. We look fo… https://t.co/AHA1txwyJZ

    30-Dec-2022

    Reply Retweet Favorite
  • LAVCA has released its annual Top Women Investors in Latin American Tech! The 140 investors featured represent a 23… https://t.co/AudLn2I1Ke

    21-Dec-2022

    Reply Retweet Favorite

Keep in touch

Twitter Linkedin Youtube

About LAVCA

 

LAVCA is the Association for Private Capital Investment in Latin America, a not-for-profit membership organization dedicated to supporting the growth of private capital in Latin America and the Caribbean through research, education, networking and advocacy.

LAVCA Office

    New York City:
    589 8th Ave, 18th Floor
    New York, NY 10018

Explore LAVCA.org

  • About LAVCA
  • Board, Team, & Advisors
  • Media
  • Contact Us
  • Membership Benefits
  • Members Only Access
  • Education and Programs
  • Research
  • Policy
  • LAVCA VC
  • Contact Us

@2020 - LAVCA. All Rights Reserved.


Back To Top