Mobility startup Movo plans Latam expansion
Madrid-based micro-mobility startup Movo is planning to expand into Argentina, Brazil and Uruguay following the recent closing of a €20mn (US$22.6mn) Series A funding round earlier this month.
The company, which offers app-based last-mile mobility renting of electric scooters and mopeds, currently operates in Spain, Mexico, Colombia, Peru, and Chile. It is seeking to be present in a total of 10 countries by the end of 2019.
Movo is a subsidiary of Spanish ride-hailing firm Cabify, which provided the seed funding for the startup in 2017.