Ride the smart mobility startup wave in Latin America
Home to approximately 650 million people, Latin America certainly has a lot of potential when it comes to business startup opportunities and those that fuse mobility and technology are among the most popular.
In 2021, a total of 47 unicorns were in Latin America, much related to e-commerce and mobility and this startup wave has continued in 2022. Besides the popularity of e-commerce, cell phones, and the internet in much of the region, local governments are also supporting.
While Colombia has made it easier for Fintech startups to begin operating by reducing bureaucracy, Peru has kicked off “Startup Peru” which stimulates innovative ventures, Brazil has launched its instant payment system PIX to facilitate business operations, and Chile and Argentina are enacting new laws to boost startup creations.
Of course, there are hurdles to deal with such as bureaucracy, political uncertainty, and inflation which occurs in much of the region. However, as most of us know, wherever there are challenges, there are also opportunities.
With that said, here are some of the mobility startups to keep an eye on in Latin America, some more established and some which are quite new. They are based on the location of their headquarters.
Ualabee provides mobility solutions through Big Data and AI, integrating routes, public transport schedules, micro-mobility services and ride-hailing operators on the same platform. It is aimed at turning mobility into a safe, efficient, multimodal alternative adapted to the needs of each person.
Also in the country, KEKO is an App which allows you to rent a car for as long as you need it, saving you time and money through a simplified payment process which is also environmentally conscious.
Offering station-based shared bicycle solutions, Tembici is a micro-mobility leader in the region. After launching in Brazil, it has expanded to other countries in Latin America such as Argentina and Chile.
Kovi is focused on simplifying car ownership by way of weekly, monthly, and annual rentals or subscriptions services.
Meanwhile, Bynd boasts an efficient urban mobility solution for corporate communities that connects employees with similar routes so they can share their rides.
Boasted as the first carsharing company with a regional presence in Latin America, Awto offers vehicle rentals per minute, hour, or day. Its service includes fuel, insurance, and free parking points all via a smartphone App.
Offering three lines of business for sustainable urban mobility, OasisGroup boasts a bicycle and electric scooter store (Obikes), a bicycle parking and EV charging station business (Opark), and a platform and advisory service regarding strategies to promote conscious mobility habits (Ofest).
Aimed at avoiding or preventing deaths caused by drinking and driving, GoElegido is a technological platform that connects car owners with chosen drivers in real time.
Kavak, the first unicorn from Mexico, is an e-commerce company dealing with the purchase and sale of pre-owned vehicles. It is now a global company with operations in Argentina, Brazil, Chile, Colombia, Mexico, Perú, Spain and Turkey.
Econduce offers mobilization plans in Mexico City on electric motorcycles. It is a fast, easy-to-drive and environmentally friendly transportation alternative offering different monthly subscription plans which are designed for individuals as well as businesses such as delivery companies.
Meanwhile, AllRide connects people who frequently drive to work with riders heading the same way, helping them to coordinate their travels together on a recurring basis.
Last but not least, MazMobi integrates multiple mobility solutions for company employees. It offers Carsharing, Ride haling, micro-mobility, private transport, and Carpooling services under a collaborative economy model packaged in a single mobile App.
Carcool is a car-pooling App which allows people to share transport with others in the same workplace. Users can take the role of driver or passenger, where passengers look for drivers with similar routes and reserve seats at a fixed price.
Among the speakers at Fleet LatAm Conference 2022 in September were local startup founders.
left to right, Arturo Simone (KEKO founder), Pablo Alvéstegui Seelenfreund (Allride co-founder), and Pablo Alvéstegui Seelenfreund (Mazmobi founder) speaking at Fleet LatAm Conference in Mexico City .(copyright: Fleet LatAm)
For more insight on fleet management in Latin America, meet with Fleet LatAm and other participants during the next Business Networking Group meeting , taking place Tuesday (13 December) online. Register now, for free.