Base Partners and Crankstart, the family foundation of Michael Moritz of Sequoia, led a USD30m Series B for Mottu, a Brazilian motorbike rental service for last-mile delivery companies, with follow-on from Tiger Global. Mottu also secured USD10m in debt financing from Verde Asset Management as part of the round. Mottu raised a USD2m round from Allievo Capital, Caravela Capital and Fundação Estudar in August 2020.
(TechCrunch) – Mottu, a São Paulo-based motorcycle rental startup, has raised $30 million in equity in a Series B round of funding.
The company, which aims to give independent couriers a way to work for logistics and food delivery apps, also secured $10 million in debt financing. Most, if not all, the workers have little to no, or bad, credit, so purchasing a motorcycle outright is not an option.
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