Urbvan has been considered a consumer favorite in Mexico thanks to their focus on lowering time people spend in congested traffic. Only a few months ago the company claimed it had reduced traffic time by around 25%.
Now, the urban mobility startup just announced that it has raised $9 million, according to a company press release. Leading the round was Kaszek Ventures, accompanied by Angel Ventures, DILA Capita and LiiL Ventures. Funds will reportedly go towards expanding the company’s van fleet.
“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.
“It is no longer necessary to travel by car because there is a solution at an affordable cost and that, in addition, promotes productivity by having wireless internet and electrical connections during the trip.”
Thanks to Urbvan’s solution, passengers in Mexico City as well as Mexico State and Monterrey are spending 45 minutes on the road instead of three hours. Under a sharing economy model with over 50 routes to choose from, Urbvan is an app that’s enhancing mobility in a country full of congestion.
Not only is the urban mobility solution improving traffic conditions and daily life passengers but also having a positive environmental impact. So far, 2019 has seen a reduction of 556 tons of C02 in Mexico City.
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