Uber invested an undisclosed amount in Chilean fintech Galgo as part of a strategic partnership to expand motorcycle financing for drivers and delivery partners in Latin America. The partnership will launch in Mexico before expanding to Chile, Colombia, and other markets in the first quarter of 2027.
Founded in Chile in 2018, Galgo provides motorcycle sales and financing to consumers with limited access to traditional credit. The company operates in Chile, Colombia, and Mexico through more than 2,000 partner dealers.
Galgo will use the investment to develop financing products for Uber drivers and delivery partners, enter new markets, and invest in technology, data, and artificial intelligence.
Galgo has financed more than 200,000 people and about 7,500 motorcycles per month. It has raised more than $100M in equity and secured more than $350M in credit lines. Revenue is growing 50% annually, and the company reached net income breakeven in the latest quarter.
Source: LatamList
