Chilean motorcycle financing platform Galgo secured a $55M credit facility from BBVA Spark to expand its operations in Mexico.
Galgo offers motorcycle financing through a digital application process, serving customers such as independent workers and delivery drivers.
Galgo will use the facility to finance more motorcycles and expand its credit portfolio in Mexico.
Since entering Mexico in 2022, Galgo has financed motorcycles for more than 40,000 people and now finances over 3,500 motorcycles per month in the country.
Across Mexico, Colombia, and Chile, Galgo has provided credit to more than 200,000 people through a network of over 1,500 partner stores. Galgo finances about 7,500 motorcycles per month across the three markets and reports annual growth of more than 50% while operating profitably.
Source: LatamList
