Sao Paulo-based bike-and-scooter-sharing startup Yellow merged with Mexico City’s electric scooter-sharing company “Grin” on January 30th 2019 to form Grow Mobility, Latin America’s largest micro-mobility company. Grow now operates more than 135,000 vehicles in six countries and has aggressive plans for expansion in 2019.
Yellow previously raised $63 million in funding in a round led by GGV capital, the largest series A round for a Latin American startup. Grin had raised $45,7 million. Grin cofounder Sergio Romo has stayed on as CEO of Grow. Many Latin American cities have a high demand for last-mile mobility services due to their high population density and poor transport infrastructure. The company will also continue working with Rappi, Latin America’s largest food and grocery delivery platform.