Millennium Mobility Secures US$40 Million Credit Facility to Expand Vehicle Financing in Peru

Millennium Mobility, the Peruvian mobility fintech focused on vehicle financing solutions for ride-hailing and delivery drivers, has secured a US$40 million credit facility from Accial Capital. The funding will support the company's continued growth across Lima and strengthen access to vehicle ownership for underserved workers in the gig economy.

New Capital to Accelerate Growth

Founded by Tommy Linares and Henry Saldaña, Millennium Mobility operates through its brands Lima Bikes and Lizzo, providing financing for motorcycles and cars used by drivers working in ride-hailing and delivery services.

The newly announced US$40 million credit facility will enable the company to scale its financing platform and expand access to vehicles for workers who often face barriers when seeking traditional auto loans.

Since launching its operations in 2020, Millennium Mobility has financed more than 10,000 vehicles, leveraging technology and artificial intelligence to streamline approvals and deliver financing decisions in as little as 48 hours.

Addressing Gaps in Traditional Auto Lending

A significant portion of Millennium Mobility’s customer base has historically been underserved by conventional financial institutions. Many applicants face challenges obtaining financing due to informal income sources, limited credit histories, or migrant status.

The company's model seeks to address these barriers by offering a structured financing alternative that helps drivers gain access to income-generating assets while working toward ownership.

According to the company, 92% of Lima Bikes customers had no prior credit history before obtaining financing through the platform. Additionally, 82% of clients are immigrants, primarily from Venezuela.

Technology and AI at the Core of the Platform

Millennium Mobility has built its lending infrastructure around technology and AI-driven underwriting processes. This approach allows the fintech to evaluate applicants more efficiently and provide financing options to individuals who may not fit traditional lending criteria.

The company’s financing structure is designed to align with the realities of gig economy workers. Borrowers make weekly payments, matching the income cycles commonly experienced by ride-hailing and delivery drivers.

The platform also includes borrower protection mechanisms. Under its model, voluntary vehicle returns can eliminate any remaining balance, reducing the financial burden on borrowers who are unable to continue with their financing agreements.

Promoting Financial Wellness and Asset Ownership

The US$40 million facility from Accial Capital is structured as an asset-backed financing solution with a focus on financial wellness and responsible lending practices.

By providing a formal alternative to informal vehicle rental arrangements, Millennium Mobility aims to help drivers achieve greater operational stability and build long-term wealth through asset ownership.

The company’s model connects access to transportation assets directly with income generation, creating opportunities for workers who may otherwise remain excluded from traditional financial systems.

Accial Capital Supports Inclusive Lending Models

For Accial Capital, the transaction reflects its focus on supporting technology-enabled financial solutions in emerging markets.

The investment firm highlighted Millennium Mobility’s combination of asset-backed lending, data-driven decision-making, and responsible credit structures as key factors behind the facility.

With fresh capital now available, Millennium Mobility is positioned to continue expanding its reach among ride-hailing and delivery drivers across Peru while advancing financial inclusion through vehicle ownership and accessible credit solutions.