Kovi operates a car-access platform that rents vehicles to app drivers and is developing pay-per-mile capabilities and tracked insurance (Kovi Seguro). The company uses data science and analytics to price and manage vehicle offerings and to improve user experience. Kovi plans to expand its service to new cities across Latin America and to double down on operations in Brazil and Mexico, including launches of new financial services and products. The company will allocate funds toward technology development (data management and pay-per-mile), recruitment of developers, software engineers and data scientists, and fleet growth. Operating metrics cited include customer growth of more than 70% in 2020, over 11,000 users in Brazil and Mexico, and a reported 12,000-car fleet with a team of 700 employees. By the end of 2021 Kovi aimed to add another 20,000 cars to its fleet.

Total raised

$95M

Funding rounds

1

Latest round

Series B

Latest activity

Aug 2021