Leasy is a Peruvian fintech offering subscription-based financing to ride-hailing drivers. The company’s core product is a subscription model that provides vehicle financing and it plans to develop new financing options for different vehicle types. Leasy will use the $28M Series A (a mix of equity and debt) to expand operations in Mexico and Peru. Investors in the round include Magma Partners (lead), Entangle Group, DeBa Ventures, Noa Capital, and Grupo CAPEM. The company plans to provide over 500 individual loans in Peru and monthly loan originations of $1M–$1.5M in Mexico. In 2023 Leasy reported a significant increase in loan placements and revenue in Peru while maintaining profitability, which attracted investor interest. Leasy offers automobile financing to Latin American ride-hailing drivers via a subscription-style financing model that includes insurance, simple payments and flexible return terms. The company uses a driver-facing app for payment transparency and is integrated with Uber APIs for background and driving checks. Leasy has developed predictive analytics plans to estimate default risk and provide drivers with operational insights like fuel and earnings. It claims interest rates far below traditional banks, a 5% down payment requirement, and rental-market‑matching pricing. The startup reports it has been profitable (positive net income and EBITDA) since month one and saw 170% revenue growth in 2021 versus 2020. To date it has underwritten over 370 loan contracts, has a waiting list of more than 1,500 people, and reports a roughly 1% churn/default rate. The new capital will be used to scale faster and expand beyond Peru to Mexico, then Colombia and Chile.

Total raised

$45M

Funding rounds

4

Latest round

Series A

Latest activity

Mar 2024