Bicycle Capital Co-leads $50M Series C Financing of Mottu
Gunderson Dettmer represented client Bicycle Capital as it co-led the $50 million Series C financing of Mottu, a Brazilian-based motorcycle rental company and last-mile delivery marketplace. Mottu helps workers generate income for their families by offering low-cost daily motorcycle rentals for delivery drivers and couriers who do not have a vehicle. The new capital will be used to expand geographies, improve operational efficiency and customers' experience.
In the announcement of the transaction, Bicycle Capital Founder and Executive Chairman Marcelo Claure said, "Mottu is a company we admire for its solid business and real social impact, serving the underserved and improving the lives of thousands of customers. Mottu stands out as a rare combination of high growth, operational excellence, profitability, and capital efficiency. This achievement is a direct result of a dedicated and exceptional team that have proven to be financially rigorous operators, precise capital allocators, and sophisticated supply chain managers. We are very excited to partner with Mottu as Bicycle's first investment.”
The Gunderson Dettmer deal team was led by Adan Muller and included Rafael Bellaver.