Frota 162, a Brazilian startup specializing in automotive fleet management, has secured a $600K investment led by ACE Ventures. The funds will be used to expand the team and scale operations.
The startup addresses the bureaucratic pain points of the fleet management sector. Frota 162’s solution cuts fine costs by approximately 40% and reduces the time spent on fine management, driver restrictions, and other administrative tasks by over 80%.
“We saw a great opportunity to differentiate ourselves by offering superior usability compared to current tools like Excel spreadsheets while also significantly reducing costs and time,” said Marcelo Lemos, CEO of Frota 162.
Frota 162, founded in 2022, is growing by an average of 15% per month and has already doubled its size since early 2023. The company manages over 44,000 vehicles and supervises 10,000 drivers. Some of its clients include Armac, Rodonaves, Framento, Lets Locadora, and Kothe.
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