Galgo Adds Uber as Investor to Expand Motorcycle Financing in Latin America

Galgo, the Chilean fintech specializing in motorcycle financing, has brought Uber on board as an investor in what represents the company’s largest individual capital investment to date. The amount was not disclosed. The companies will also develop financing solutions for Uber drivers and couriers across Latin America.

Galgo and Uber Target Motorcycle Financing for Platform Workers

The partnership will focus on financing the direct purchase of motorcycles for Uber drivers and couriers. The opportunity is significant, as 9 out of 10 workers in the platform economy currently cannot access financing to purchase a motorcycle.

The solution will differ from the working capital financing Uber already offers with R2 in Mexico. In this case, Galgo will directly finance the motorcycle purchase.

The product is expected to launch in Mexico during the first quarter of 2027, before expanding to Chile and Colombia. Galgo is also considering entering a fourth market at the beginning of the same year.

“Galgo has built something unique in the region: a financing business that can scale and effectively reach people who the traditional system tends to leave behind,” said Federico Chester, Head of Latin America Business Development at Uber.

For Galgo, the agreement represents an opportunity to expand its reach among platform workers. For Uber, it adds an alternative to help drivers and couriers access an asset that is essential to generating income.

From Migrant Credit to Motorcycle Financing

Galgo was founded in 2018 under the name Migrante by Diego Fleischmann, Ignacio Canals, Sebastián Parot, Francisco Eterovic and Benjamín Izikson.

The company initially provided credit to immigrants who were excluded from the traditional financial system. It later identified a larger opportunity in motorcycles as productive assets.

As a result, the company relaunched as Galgo in 2023, focusing its business on motorcycle financing.

Galgo Reaches Break-Even and Targets US$500M in Revenue

Galgo currently places approximately 7,500 motorcycles per month and generates US$100 million in annualized revenue. The company also grew by nearly 50% during its latest fiscal year.

In addition, Galgo reached net profit break-even during the last quarter. With this foundation, the company is now targeting US$500 million in annualized revenue by 2030, effectively aiming to quintuple its current revenue.

“This is strong support for our plan to grow from US$100 million to US$500 million in annualized revenue by 2030, always profitably,” said Sebastián Parot, co-founder and co-CEO of Galgo.

A Growing Motorcycle Financing Market in Latin America

The regional market also presents an opportunity for Galgo’s expansion. Motorcycle loans in Latin America reached US$10.8 billion in 2025 and could grow to US$15.9 billion by 2030.

Meanwhile, Mexico and Colombia alone sell nearly 3 million new motorcycles each year.

For Galgo, this demand creates room to continue expanding access to financing while strengthening its position in one of the region’s fastest-growing credit segments.