Mexican mobility startup Urbvan raises US$9 million round led by Kaszek Ventures
Summary
Contxto – Urbvan recently released a beacon of hope for many Mexicans based on its ability to reduce time wasted in traffic. “We are fascinated with how Urbvan solves a need of the population by allowing each user to travel safely and comfortably to get to their jobs,” said Hernán Kazah, Managing Partner of Kaszek Ventures and co-founder of Mercado Libre. “We detect that this type of solution is made for emerging markets and, specifically, metropolitan areas that have grown rapidly and without planning,” said Picard. “Part of the key to success is listening to users and providing the best service based on feedback.” In the beginning, Urbvan raised US$800,000 from DILA Capital and Mountain Nazca. Many city dwellers decide to reside close to their jobs to avoid traffic issues, which impedes people’s mobility in a multitude of senses.