Autonomy, the Argentine mobility fintech that finances 0km cars for transport platform drivers, placed its second issue of negotiable obligations for $7,888 million (about US$5.1 million).
Series II, issued by his company AFS Group, was tendered on November 3 and settled on the 5th, at a cut-off rate of TAMAR + 2%, where TAMAR is the reference rate paid by banks for fixed terms of more than $1,000 million.
These are guaranteed negotiable obligations: Banco CMF, Banco Galicia, Banco Comafi and Banco de Valores acted as guarantee and placement entities. The term is 24 months, with quarterly payment of interest and return of capital in three installments: 33% in month 18, 33% in month 21 and 34% in month 24.
The operation marks a significant leap compared to AFS Group’s debut in the capital market: Series I, placed at the end of 2025, was for $1,000 million (close to US$700,000 at the then exchange rate) to private TAMAR plus 4%, with Banco CMF as sole organizer.
Series II is almost eight times larger and consolidates a financing structure that combines capital market debt with venture capital: in August, Autonomy closed a US$8 million Series A with Magna Capital, Comafi, Natan VC and Murchison Ventures.
Without advance payment, with insurance and maintenance: the model that finances the driver
Autonomy was founded in 2022 by José Trusso (CEO), an industrial engineer with stints at Deutsche Bank and JP Morgan, and Leandro Cuccioli (co-founder), former head of the AFIP and former Secretary of Financial Services of the Ministry of Finance. The company buys 0km cars and delivers them to Uber, DiDi and Cabify drivers without advance payment, with insurance, maintenance and license plate included in the monthly fee, under a rent-to-own scheme.
The model targets a segment that traditional banking has difficulty covering: platform drivers who need a vehicle to generate income but do not qualify for conventional credit.
According to the company, the funds from the new placement will be used to expand the fleet and generate new mobility opportunities in the region. Autonomy already operates with more than 1,500 vehicles and more than 2,000 drivers, and aims to reach 10,000 cars in the Southern Cone by December 2027.
The combination of debt in pesos adjusted to the reference bank rate with capital in dollars reflects a structure designed to scale in a volatile local market without exchange rate mismatch in the credit portfolio, where drivers’ income and fees are denominated in the same currency.
