What is Leasy?
Leasy operates at the intersection of FinTech and the gig economy, specifically targeting the underserved segment of ride-hailing drivers in Latin America. The company provides tailored financial products that enable drivers to access vehicles, thereby facilitating income generation and economic mobility. By leveraging proprietary data and strategic partnerships with established financial institutions, Leasy mitigates the risks typically associated with lending to the gig workforce. Its market position is defined by its ability to integrate seamlessly into the daily operations of drivers, offering a digital-first approach to credit management and vehicle ownership that traditional banking institutions often overlook.
How much funding has Leasy raised?
Leasy has raised a total of $17M across 2 funding rounds:
Angel/Seed
$2M
Debt
$15M
Angel/Seed (2022): $2M with participation from Magma Partners, INCA Ventures, BuenTrip Ventures, OTTO Holding, GRAM, and Nucleus EMV
Debt (2022): $15M led by Mitsui Auto Finance Peru and BCP
Key Investors in Leasy
Magma Partners
Magma Partners is a venture capital firm focused on investing in and supporting top technological startups in Latin America, providing funding from pre-seed to Series A.
BuenTrip Ventures
BuenTrip Ventures is a pre-seed VC firm in Quito, Ecuador, that identifies, mentors, and invests in software-based startups transforming the Latin American economy.
Mitsui Auto Finance Peru
MAF Peru offers a range of vehicle financing solutions, including automotive loans and leasing options, designed to cater to individual clients and taxi operators.
What's next for Leasy?
With this major enterprise-level funding, Leasy is well-positioned to accelerate its regional expansion and enhance its technological infrastructure. The strategic focus will likely shift toward deepening its integration with local automotive financing providers and optimizing its credit scoring models to support a larger user base. As the company scales, it will need to navigate the complexities of the Latin American regulatory landscape while maintaining the agility required to compete in the fast-paced ride-hailing sector. Future growth will depend on the firm's ability to maintain low default rates while scaling its debt-financing capabilities to meet the rising demand for vehicle access among gig workers.
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