Uber invests in Latin American motorcycle lender Galgo to finance gig workers

Uber Technologies

12/08/2026 17:26

By Kylie Madry
MEXICO CITY, Aug 12 (Reuters) - Uber will invest in Galgo, a Latin American lender focused on motorcycle purchases, as the ride-hailing giant looks to expand access to vehicles for drivers and couriers, the companies said on Wednesday. 
Santiago-based Galgo said the investment is part of a partnership that will start in Mexico before expanding to Chile and Colombia in the first quarter of 2027. 
It did not disclose financial terms. 
The plan is to offer financing products tailored to Uber drivers and delivery workers, Galgo said.
Galgo said the investment will fund expansion into a fourth Latin American country in early 2027. 
It will also contribute to spending on technology, data and artificial intelligence.
Galgo provides motorcycle sales and financing to mass-market customers, including borrowers with limited access to traditional bank credit.
The deal underscores Uber's broader interest in vehicle financing and the importance of motorcycles in Latin America, where they are widely used for low-cost transport and delivery work.
Co-founder and co-Chief Executive Sebastian Parot said the company aims to grow annualized revenue to $500 million by 2030 from about $100 million now.
Founded in 2018, the company has so far raised $100 million in capital.
Chairman Diego Fleischmann said Galgo is growing about 50% a year and reached net income break-even in the latest quarter.

 (Reporting by Kylie Madry; Editing by Fabiola Arámburo)
 ((Kylie.Madry@thomsonreuters.com;))