The equity and debt financing was led by Magma Partners, with participation from Entangle Group, DeBa Ventures, Noa Capital, Grupo CAPEM, and other investors from Latin America, the United States, and Europe.
CEO and co-founder Gregorio Gilardini shared that the funds will be used to increase sales capacity and consolidate operations in Peru and Mexico. In Peru, Leasy aims to grant over 500 individual loans in 2024 and launch new products for financing motorcycles, vans, corporate vehicles, and personal vehicles for non-app drivers.
In Mexico, where Leasy operates through a subsidiary since January 2024, the goal is to achieve monthly loan volumes between $1 million and $1.5 million. The company plans to open a second branch in Mexico, possibly in Guadalajara or Monterrey, during the second half of 2024.
Leasy experienced significant growth in 2023, doubling its loan placement and revenue in Peru while remaining profitable. Gilardini is optimistic about the Peruvian economy in 2024 and sees strong demand for Leasy’s products due to transportation conditions in the country.
As part of the regional expansion, Alex Byrne, former country manager of Leasy’s Peruvian operation, has been appointed as the country manager for the company’s Mexican subsidiary. Tomás Zeña has replaced Byrne in Peru.
