Mexican fintech OCN (formerly OneCarNow) raised $86M in a Series A round led by Caravela Capital. Collide Capital and Great North Ventures also participated on the equity side, and i80 Group led the debt side of the deal.
OCN will use the funds to enhance its tech infrastructure and hire executives.
“We want to be super capital efficient so the company can reach a level of organic growth in the future and not have to keep raising equity money,” said Mairon Sandoval, OCN’s Co-Founder and CEO.
OCN allows gig workers to lease new cars through a subscription service that includes costs for maintenance, insurance, and more. After 36 months, customers have the option to buy the car.
OCN started operations in 2022 and has served over 25K customers across 22 Mexican states and in the US in Florida.
Read more on LatamFintech Hub and Bloomberg.
