LatAm List – Grow Mobility has merged with Mexican fintech Flinto, a payment platform that allows non-banked users to make mobile transactions via cash deposits at participating stores. Grow Mobility is the rebranded name for the holding of two micro mobility startups: Grin, originating in Mexico and Yellow, originating in Brazil.
As the interest in and demand for micro mobility increases throughout Latin America, startups like Grow Mobility, which raised $150M earlier this year, are finding ways to accommodate and democratize their payment system.
“It’s a need if you want to tap into a big market of underbanked or non-banked individuals. The only way to bring them on the platform is through a wallet,” said co-founder of Grin, Jonathan Lewy, to TechCrunch.
Grow Mobility’s fleet of 135K micro mobility vehicles is expected to double across six Latin American countries in 2019 due to this merger deal.
Read more at TechCrunch.