LatAm List – Brazilian bikeshare startup, Yellow, founded by the founders of 99, raised Latin America’s largest Series A round in September 2018. As competition ramps up in the alternative transportation industry in Latin America, including bikeshares, e-scooters, and electric bikes, Yellow will use that US$63M investment to expand outside of Brazil.
“The operation in São Paulo has proven beyond doubt that there is a gigantic potential for micromobility in Brazil and Latin America,” said Yellow’s CMO, Luiz Felipe Marques in an interview with Forbes.
Yellow is now trialing electric bikes and scooters in São Paulo while it evaluates expansion. Mexican e-scooter startup, Grin, recently reached Brazil through a partnership with local provider, Ride. Uber is also targeting the Latin American market with its micromobility programs through its brand, Jump, which will be available through the Uber app.
Yellow’s founders cite its competitive advantage as its vertical integration, as the startup manages the production of its own bikes and scooters, soon to be fully established in Brazil. Yellow plans to move into Colombia, Argentina, Mexico, Chile, and Uruguay through 2019.
Read more in Forbes.