The Uruguay-based startup connects vehicle owners with renters through a mobile app launched in October 2023. TripWip’s technology manages compliance, security, and additional services, differentiating it from traditional car rental companies.
In 9 months, TripWip gained 15,000 users and 600 active vehicles across Uruguay and Argentina. The platform completed 3,000 rentals, with user acquisition growing 117% month-over-month. Conversion rates increased from 10% to 16%, and the team expanded from 4 to 13 members in two months.
Alejandro Curcio, CEO of Toyota Uruguay, led the seed round, contributing capital and industry expertise. Hugo Romay, an angel investor associated with Endeavor, also participated significantly.
TripWip chose Mexico for expansion due to its demographic profile, receptiveness to sharing economy services, and active tourism market. The company plans to adapt its scalable technology to meet local compliance and security requirements through partnerships with leading companies.
To acquire and retain users, TripWip employs paid media strategies and cross-communication with strategic partners. The platform uses KYC technology for security and AI for demand forecasting, considering factors like seasonality and events. By the end of 2025, TripWip aims to reach 200,000 users, a fleet of 6,000 cars, a 20% conversion rate, and a 25% reinsertioneration rate.
TripWip addresses safety concerns through KYC software, GPS tracking, and a reputation system for hosts and drivers. The company partners with insurers offering “policy as a service” models.
Challenges in Uruguay included educating hosts and building trust. TripWip overcame this by providing tools and dedicated support for vehicle owners. In Mexico, the company is working on compliance and security integrations to ensure risk-free service.
TripWip’s long-term vision aligns with sustainable mobility trends, aiming to increase vehicle access while reducing idle time and urban congestion. The company advises Latin American entrepreneurs expanding internationally to learn from experienced peers and validate product-market fit.
Key lessons from TripWip’s first 9 months include prioritizing growth-driving initiatives and quickly learning from mistakes. The company emphasizes user experience, geographic distribution, and accessibility, seeking to complement rather than compete with traditional mobility options.
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