Leasy plans to use the funding to support geographical expansion. Here are the top-line bullets you need to know.
Leasy, a fintech startup, has raised $17M in a mix of debt and equity. The company raised $2M in seed funding from Magma Partners, BuenTrip Ventures, and INCA Ventures, among others, and it raised $15M in debt from undisclosed investors.
How’s the company performing?
- Peru-based Leasy provides automobile financing to ride-hailing drivers in Latin America.
- The startup witnessed 170% year-over-year revenue growth in 2021.
- Since its launch, the company has underwritten 370+ loan contracts, and it now has a waiting list of 1,500+ people.
- Leasy partnered with Uber in 2019 to find potential drivers and collect data.
Source: Leasy
Why does the market matter?
- The global automotive finance market is expected to reach a value of $394.1B by 2028, growing at a CAGR of 7%, according to Grand View Research.
- Growing consumer preference for leasing models and direct auto loans has contributed to market growth.
