The recent merger of two scooter companies- Mexico City’s Grin
and Sao Paulo’s Yellow-
has raised $150 million in fresh capital. The newly renamed Latin American firm, Grow Mobility
, will continue operations in home markets in Mexico and Brazil while expanding to Chile, Colombia, and Uruguay.
According to insiders, Grow is expected to have $200 million in annualized revenue by June 2019, as reported by The Information.
Grow CEO Sergio Romo said “The companies have about 100,000 scooters combined, in addition to 35,000 bikes, in six countries. Many of those haven’t yet been deployed. They now have access to two large scooter manufacturers; Yellow purchases scooters from InMotion, and Grin from Segway-Ninebot.”