Turbi raises US$5.5M from Santander to Accelerate Growth and Expand Its Fleet
Turbi secures R$30M from Santander to expand its fleet, boost operational efficiency, and strengthen financial performance as it targets record 2025 growth.
Turbi, the Brazilian tech company focused on shared urban mobility, has secured a R$30 million credit facility from Banco Santander. The new funding, fully absorbed by the bank, reinforces the company’s cash position as it targets nearly R$400 million in revenue by December.
A New Injection of Capital to Boost Efficiency and Product Development
According to Eduardo Portelada, Turbi’s Director of Investor Relations, the capital will support upcoming initiatives aimed at operational efficiency and the development of new platform functionalities. He explains that the company’s focus is on improving the user experience while strengthening profitability metrics in the coming quarters.
This transaction follows the acquisition of roughly 1,400 vehicles in the third quarter, an expansion made possible by funds previously raised with Itaú. Portelada highlights that the two consecutive operations reflect the strong credit assessment Turbi has earned among major Brazilian financial institutions.
Rapid Fleet Expansion Consolidates Market Position
Turbi’s fleet now counts approximately 7,000 active vehicles, marking an increase of more than 100% compared to 2024. This expansion cements the company’s position among the four largest B2C-focused car rental operators in Brazil.
CEO and cofounder Daniel Prado notes that the company has been doubling in size annually. He attributes this growth to internally developed technology, scale advantages, and disciplined operational management.
“The result is an increasingly profitable and efficient operation,” Prado states.
Strong Financial Performance Despite Accelerated Scale-Up
Even with the rapid expansion of its fleet, Turbi achieved an EBITDA margin of:
- 54.5% in the third quarter
- its tenth consecutive month above the 50% mark.
The company also reached a record R$113 million in consolidated net revenue, representing an:
- 83.4% increase year over year
- and a 37.6% jump compared to the second quarter of 2025.
Looking ahead to the fourth quarter, a historically strong period for the rental market, Prado notes several favorable factors: increasingly advantageous car acquisition conditions, better dilution of fixed expenses, and a downward trend in capital costs.
“This combination positions us to achieve even stronger margins,” he projects.
Digital User Journey and Operational Model as Competitive Advantages
Turbi’s business model allows customers to rent vehicles for periods ranging from one hour to full days or monthly subscriptions. The cars are distributed across nearly 300 partner parking facilities operating 24/7 throughout 12 municipalities in the São Paulo metropolitan area.
The entire customer journey is digital, conducted through the company’s app, which eliminates bureaucratic steps. Proprietary technologies enable flexible pickup and return times, one of the platform’s core differentiators.
Turbi’s lean operational structure, centered on digital experience and supported by a broad physical presence, allows it to compete directly with traditional industry players. By automating key processes and optimizing resource allocation, the company reduces costs while increasing coverage.
Market Outlook: Consistent Growth and Increasing Productivity
The third-quarter indicators highlight the ongoing maturation of Turbi’s model. The simultaneous improvement in revenue, margins and fleet utilization shows that growth is accompanied by productivity gains—an aspect particularly valued by both investors and lenders.
