Investment

Grin Scooters raises US$45M Series A

LatAm List – Just last month, Mexico’s electric scooter-sharing company raised the largest seed round the region has ever seen: US$28M. Now the Y Combinator-accelerated startup has raised an additional US$45.7M in a Series A round from undisclosed investors. However, Grin has previously received investment from Sinai Ventures, Liquid2 Ventures, 500 Startups, Monashees, and Base10 Partners.

This news comes as Grin partners with Rappi to provide its rental services across Colombia, Chile, Uruguay, and Brazil. While the partnership is not yet publicly defined, users will be able to use the Rappi app to rent the e-scooters in cities where Rappi is active.

Grin’s US competitor, Bird, has also recently expanded into the Mexican market to compete with Grin. Bird is currently valued at around US$2B, while experts estimate that Grin is worth US$100M.

The e-scooter market in Latin America will be an industry to watch over the next few months.

Read more in TechCrunch or PulsoSocial (Spanish).

Previous coverage of Grin:

Six Latin American startups presented at Y Combinator Summer 2018 Demo Day

Mexican scooter startup, Grin, raises US$20M in Seed round

Mexican e-scooter startup, Grin, accepted into Y Combinator

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