Mottu, a Brazilian company for motorcycle rental and logistics services, raised $50M in a Series C round. The round will allow the startup to expand its ecosystem of last-mile logistics.
“Mottu is a rare combination of high growth, operational excellence, profitability, and capital efficiency”, said Marcelo Claure, Bicycle Capital Managing Partner.
Bicycle Capital and QED Investors were the lead investors. Endeavor Catalyst and Caravela also participated in the round. This is the first investment for the recently launched Bicycle Capital.
Mottu has raised over $150M since 2020 and operates in more than 30 cities in Brazil and Mexico. The company has its assembly line in Manaus due to the increasing demand for renting bicycles.
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