Brazilian car rental startup Turbi raised $12.5M in a Series D equity round from existing investors, and $43M in debt financing. The investment follows Turbi’s $8.5M round in April 2024.
Turbi is a digital car rental platform with a presence in the metropolitan region of São Paulo. Turbi started transitioning to an entirely owned fleet in 2022 and launched a used car sales business in 2024.
Turbi will invest the funds to expand its fleet, grow its operations, and explore additional revenue streams.
“We will enter 2025 with a more robust balance sheet, growing results, and profits stemming from both fleet growth and the consolidation of our position as a leader in innovation and efficiency in the vehicle rental sector in Brazil,” said Diego Lira, CEO at Turbi.
Founded in 2017, Turbi sold 1,200 cars and generated over $17M in revenue in 2024. Read more on Pequenas Empresas & Grandes Negócios.