Chilean Lolocar acquires OlaCar to enter Uruguay

Car loan

Mobility startup Lolocar acquired its counterpart in Uruguay, OlaCar, to expand operations across borders.

With the acquisition of Olacar Lolocar enters Uruguay with about 90 cars and plans to hit 400 vehicles registered by next year.

“This will allow us to start strongly in Uruguay, inheriting the OlaCar market, which already had an important community created around carsharing,” said Enrique Cabo, CEO of LoloCar.

Lolocar is a Chilean peer-to-peer car sharing platform that allows users to rent their vehicles quickly.

Following its expansion into Uruguay, Lolocar plans to expand to Colombia, Peru, and Brazil. The app has 2,500 users and more than 300 vehicles registered in Chile.

Read more on StartupsLatam.

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