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# Brazilian motorcycle rental startup Mottu secures $40 million in funding
- URL: https://www.techloy.com/brazilian-motorcycle-rental-startup-mottu-secures-40-million-in-funding/
- Published: 2022-06-30T14:09:52.000Z
- Updated: 2022-12-08T01:47:23.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: Logistics, Tech in Brazil

[Mottu,](https://mottu.com.br/) a motorcycle rental startup based in Brazil, has secured $40 million in debt and equity funding in its Series B round co-led by Base Partners Crankstart and Sequoia Capital. 

- The new fund will be invested in hiring more than 50 senior engineers and a Chief Technology Officer (CTO), adding to the startup's employee base.
- Launched in 2020, the startup offers independent couriers logistics and delivery apps, and motorcycle rental to people, and now evolving to insurance and credit provision, and managing a driving school.
- The hardware-as-a-service (HaaS) business model focuses on solving social problems in Latin America, including reducing crime and unemployment through its offerings.
- It last raised $20 million in its Series A funding round in 2021, with the participation of Tiger Global Management that doubles down in the new round.