Brazilian motorcycle rental startup Mottu revs up with $40M to help more Latin Americans become couriers

Mottu, a São Paulo-based motorcycle rental startup, has raised $30 million in equity in a Series B round of funding.
The company, which aims to give independent couriers a way to work for logistics and food delivery apps, also secured $10 million in debt financing. Most, if not all, the workers have little to no, or bad, credit, so purchasing a motorcycle outright is not an option.
Mottu started operations in early 2020 with a fleet of 200 motorcycles in its home city of São Paulo. By year’s end, it was up to 1,000 motorcycles and $2 million in annual recurring revenue (ARR). Today, the startu

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