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The company sought capital because it realized it “needed to scale with more speed.” So far, the startup has underwritten over 370 loan contracts and has a waiting list of over 1,500 people. Leasy, a startup which offers automobile financing to ride-hailing drivers in Latin America via a subscription model, has secured $2 million in equity and $15 million in debt.Italian-born Gregorio Gilardini and Alejandro Garay, who hails from Spain, met in Peru several years ago and discovered they both had an interest in using technology to make a social impact and help people escape “the poverty trap.”They founded Leasy in 2018 with the mission to to help people who would like to earn incomes as ride-hailing drivers be able to afford to buy cars and thus, earn a steady income. And while Leasy at first started out with rentals and convinced Hertz to be its first pilot. Magma Partners’ Nathan Lustig believes Leasy is solving a “real problem” for Latin Americans who are trying to get access to what is for many people, their biggest asset.“A car can help bring Latin Americans into the middle class, and a car owner can use it to generate top 30% incomes for their families,” he said. Lima-based Leasy is different, said Gilardini, in that its interest rates are far lower and terms much more flexible.
