deRentas Secures US$6.1 Million to Expand Its Vehicle Rental Fleet

deRentas, the Argentine company that rents vehicles to Uber drivers, has secured US$6.1 million through its second issuance of negotiable obligations in the capital markets. The Series II debt has a 24-month term, is denominated in Argentine pesos and pays a TAMAR Private + 0% rate.

The issuance was fully guaranteed by Banco Galicia and Banco CMF, which also acted as organizers and placement agents. The offering received 25 bids totaling US$7.2 million, resulting in demand equivalent to 1.17 times the amount ultimately placed.

A larger issuance to support deRentas' expansion

The new financing more than doubles the amount raised by deRentas in its first capital markets transaction of 2026. In March, the company issued US$3 million under the same rate. Interest on that obligation has already been paid, while its first principal installment was canceled in September.

For deRentas, accessing the capital markets has become an important component of its growth strategy as the company continues to expand its vehicle fleet and geographic presence.

“This issuance allows us to take a concrete step toward our mission: adding vehicles so that more people can access new income opportunities, with the service and support required by an operation that is growing increasingly larger,” said Juan de la Cruz, CEO and co-founder of deRentas.

The company currently operates 7,000 vehicles, up from 150 at the end of 2023. Its operations cover AMBA, Córdoba and Mar del Plata through a strategic alliance with Uber.

From an initial fleet to 7,000 vehicles

deRentas was founded in 2021 by Juan de la Cruz and Ignacio Mazzieri, who have been friends since secondary school in Trenque Lauquen.

The company's origins came after de la Cruz, an accountant working for a multinational company, had his car stolen. After receiving the insurance payment and adding their own savings, the two founders purchased vehicles and began renting them out.

That initial operation evolved into a fleet that now stands at 7,000 vehicles.

The company has set an ambitious national growth target: reaching 10,000 vehicles by the end of 2026 and 22,000 by the end of 2027, more than three times its current fleet.

Córdoba becomes a key expansion market

Córdoba is one of the markets where deRentas is looking to accelerate its growth. The company currently has around 100 vehicles operating in the province and plans to increase that number to more than 500 before the end of the year.

As part of this expansion, deRentas plans to introduce its Flip model in Córdoba. The format allows drivers to access a vehicle by shifts to work.

The company also plans to bring its deRentas GO! business unit to the market. This service offers daily vehicle rentals aimed at tourism and business travel, with a potential presence at airports as part of the company's future plans.

Capital markets become a growth lever

The latest issuance represents deRentas' second transaction in the capital markets during 2026 and reflects the company's increasing financing needs as its operations scale.

The Series II placement was backed entirely by Banco Galicia and Banco CMF, which served both as guarantors and as organizers and placement agents.

According to Juan de Larminat, CFO of deRentas, the company sees the capital markets as an important tool for supporting its expansion and expects to continue developing this financing strategy as the business grows.

“The capital markets are an important tool to support our growth plan. As the business gains scale, we are considering moving toward issuances under the general regime as a next step in that strategy,” said Juan de Larminat, CFO of deRentas.

A growing vehicle rental model

The company's expansion is closely tied to its model of providing vehicles to drivers working with Uber. As the fleet has expanded, deRentas has extended its presence across AMBA, Córdoba and Mar del Plata.

The latest capital raise provides additional financing capacity as the company moves toward its short- and medium-term fleet targets.

With 7,000 vehicles currently in operation, deRentas aims to add another 3,000 vehicles before the end of 2026 and reach 22,000 vehicles by the end of 2027.