Priya Patel
TLDR: Peruvian fintech Leasy raises $28M Series A
Key Points:
- Peruvian fintech Leasy raised a $28M Series A round in equity and debt led by Magma Partners
- The funding will help Leasy expand its operations in Mexico and Peru and develop new financing options for different types of vehicles
Peruvian fintech Leasy has successfully raised a $28M Series A round, with investors including Magma Partners, Entangle Group, DeBa Ventures, Noa Capital, and Grupo CAPEM. This funding will enable Leasy to scale up its operations in Mexico and Peru, as well as introduce new financing options for various vehicles. The company plans to provide over 500 individual loans in Peru and monthly loans worth $1M to $1.5M in Mexico.
One of the most significant aspects of this funding round is the diverse group of investors who have shown their support for Leasy’s business model. CEO and co-founder Gregorio Gilardini highlighted the interest from investors unfamiliar with the region but willing to invest in Leasy’s growth in Latin America. This demonstrates confidence in the fintech’s approach to providing financing to ride-hailing drivers in the region.
Leasy’s success in 2023, with a significant increase in loan placements and revenue in Peru while maintaining profitability, has attracted attention from investors globally. The company’s subscription model for providing financing to ride-hailing drivers has proven to be successful, leading to this substantial Series A round.
With the support of top investors and a proven track record of growth and profitability, Leasy is well-positioned to continue its expansion and make a lasting impact in the fintech industry in Latin America.
