Acquisitions

Mexican e-scooter startup Grin merges with Brazilian counterpart, Ride

LatAm ListGrin wants to become a US$10B company. The Mexican e-scooter startup has recently raised over US$65M on its mission to expand across Latin America, and beyond. As a part of that plan, Grin has merged with Brazilian e-scooter company, Ride, to begin operations in São Paulo.

As a part of the merger, the Ride team will manage Grin’s Brazilian operations under the Grin brand. To date, Ride is the only active e-scooter company in Brazil, although Yellow, which recently raised a US$63M Series A, will deploy their scooters soon.

Grin has also partnered with Colombian delivery app, Rappi, to provide Grin services through the app and help streamline their regional expansion.

“We definitely want to be global. I don’t think you can become a ten-billion-dollar company if you don’t go global. I think LATAM might actually be the best market — there’s huge density and a huge market combined with Europe. And who knows, we might pop up in an American city soon if we do a good job. But this is definitely in our heads. This is engineered to be a global play,” said co-founder Sergio Romo in the original article for TechCrunch.

 

Read more in TechCrunch.

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