123 Lease raises $30M to expand its operation in Mexico

Car loan

123 Lease, a Mexican startup that provides car leasing services, secured $30M of financing from Emso Private Credit Fund. 

123 Lease offers a type of lease in which customers rent the vehicles to carry out their business activities without the option of purchasing the asset at the end of the contract, giving clients certain tax advantages. The money raised will be used to expand the company’s light-vehicle fleet in Mexico.

Octavio H. Vázquez Zarattini, General Director of 123 Lease, said “The financing comes at a special moment for the company, we have demonstrated that vehicles’ leasing to individuals and  Small and Medium-Sized Enterprises (SMEs) is crucial to boost their growth through mobility”

The company has been offering mobility-focused leasing services since 2014, catering to a historically underserved market segment that includes entrepreneurial individuals and SMEs in Mexico.

Read more on: Tekios

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