Galgo Raises $40M to Expand Financing Solutions

Published 7 months ago

Galgo, a financing solutions provider, has successfully raised $40 million in a funding round. The startup, originally named Migrante, was founded in 2018 and initially focused on providing credit for lease guarantees and professional title validation to the immigrant population.

Diversifying Offerings and Expanding Reach

Over the years, Galgo has diversified its services, branching out into motorcycle and automobile financing. The company has also strategically expanded its operations into other South American markets. In 2021, Galgo entered the Peruvian market and made a significant move into Mexico in 2022. The company’s primary focus in these markets is to provide financing for motorcycle purchases through its advanced digital platform.

Funding Round Led by Nazca

The recent funding round, which saw Galgo amass $40 million, was spearheaded by Nazca. Other participants included Grupo Auteco, WIND Ventures, Güil Mobility Ventures, Dalus Capital, Kayyak Ventures, Fynsa, Buena Vista Capital, and Amarena VC. The startup was founded by Benjamin Izikson, Diego Fleischmann, and Salvador Porta.

Plans for Future Growth

Currently, Galgo is concentrating on enhancing its user experience. The company is working on streamlining the purchasing process, financing requests, document signing, and product delivery. The funds raised will be utilized to further expand the company’s presence in Chile, Peru, Colombia, and Mexico. Galgo will place particular emphasis on Colombia and Mexico, as these markets are predicted to grow rapidly in the upcoming years.