Galgo, the Chilean fintech specialized in motorcycle financing, added Uber as an investor. The transaction represents the largest single capital inflow in the company’s history. However, the amount was not revealed.
In addition, both companies will develop financing solutions for Uber drivers and delivery people in Latin America. The segment presents a relevant opportunity. Currently, 9 out of 10 workers in the platform economy cannot access financing to buy a motorcycle.
Galgo was born in 2018 under the name Migrante. Its founders were Diego Fleischmann, Ignacio Canals, Sebastián Parot, Francisco Eterovic and Benjamín Izikson. The company began providing credit to immigrants excluded from the financial system.
He then identified a larger opportunity in motorcycles as a productive asset. For this reason, in 2023 it was relaunched as Galgo and concentrated its business on motorcycle financing.
Financing focused on motorcycles
The solution that Galgo will develop with Uber will be different from the working capital credit that the platform already offers together with R2 in Mexico. In this case, Galgo will directly finance the purchase of the motorcycle.
The product will debut in Mexico during the first quarter of 2027. Afterwards, it will arrive in Chile and Colombia. In addition, the company plans to enter a fourth market at the beginning of that same year.
“Galgo has built something unique in the region: a financing business that can scale and effectively reach people that the traditional system often leaves out,” said Federico Chester, Head of Latin America Business Development at Uber.
The alliance also allows Galgo to expand its reach to platform workers. At the same time, Uber incorporates an alternative to facilitate the access of its drivers and delivery people to a key asset to generate income.
A goal of US$500 million by 2030
Currently, Galgo places about 7,500 motorcycles every month. In addition, it has an annual turnover of US$100 million and grew nearly 50% during the last fiscal year.
In parallel, the company reached break-even in net income during the last quarter. On this basis, it now aims to quintuple its revenues to reach US$500 million in 2030.
“It is a strong support for our plan to grow from US$100 million to US$500 million in annualized revenue by 2030, always profitably,” said Sebastián Parot, co-founder and co-CEO.
The market also accompanies the expansion. Motorcycle loans in Latin America moved US$10.8 billion in 2025 and could reach US$15.9 billion in 2030.
Mexico and Colombia alone sell about 3 million new motorcycles a year. For Galgo, this demand opens space to continue expanding access to financing and consolidate its position in one of the fastest growing credit segments in the region.
