Latin America’s leading bike- and scooter-sharing companies merge
Latin American companies, Grin and Yellow, join forces to accelerate geographic and platform expansion across the continent.
Electric scooter-sharing company Grin, has announced its decision to merge with Yellow, Brazil’s leading provider of dockless bicycles, e-bicycles and scooters.
This new partnership is expected to create a ‘local champion’ for Latin America micro mobility and online-to-offline (O2O) services.
The new company will be called Grow Mobility Inc., and initially maintain both apps and brands.
Currently, the combination of the two companies operates over 135,000 vehicles across six countries. It has been reported that the company now plans to double this fleet size and expand both its O2O offerings and region reach.
Jonathan Lewy, Grin co-Founder and Chairman of Grow Mobility Inc., said: “We are excited to unite two homegrown LatAm technology companies who share the same vision of transforming not just transportation, but also improving broader infrastructure services and spurring economic activity across our region.”
Brazilian/Argentinian entrepreneur and Yellow co-Founder, Ariel Lambrecht, will serve as Chief Product Officer, leading the core product and engineering functions, as well as heading Brazilian operations alongside Marcelo Loureiro, co-Founder and CEO of Grin Brazil. Previously the co-Founder of 99, Brazils first technology unicorn, Lambrecht will help to guide Grow with his product and mobility experience.
The new Board of Directors for Grow will comprise Sergio Romo and Jonathan Lewy, Ariel Lambrecht, Marcelo Loureiro, Lukasz Gadowski from Flash and former founder of Delivery Hero, Carlo Dapuzzo from monashees, and Hans Tung from GGV Capital.
Sergio Romo, Grin co-Founder and Global CEO of Grow, said: “The demand for these everyday services across Latin America is huge and, by combining strengths and resources, we will be able to move quickly to serve more users. We look forward to building on Grin and Yellow’s strong relationships with local officials and other stakeholders who are eager to partner with us in creating long-lasting value for our region.”