Leasy, a Fintech company from Peru, raises M in Series A funding

Leasy, a Peruvian fintech company, has recently secured million in series A funding from a group of investors led by Magma Partners. Other participants include Entangle Group, DeBa Ventures, Noa Capital, Grupo CAPEM, and investors from Latin America, the United States, and Europe.

The CEO and co-founder of Leasy, Gregorio Gilardini, announced that the funds will be used to expand the company’s sales capacity and consolidate its operations in Peru and Mexico. In Peru, Leasy plans to provide more than 500 individual loans in 2024 and introduce new financing products for motorcycles, vans, corporate vehicles, and personal vehicles for non-app drivers.

In Mexico, where Leasy has been operating through a subsidiary since January 2024, the company aims to achieve monthly loan volumes between million and .5 million. Additionally, Leasy plans to open a second branch in Mexico, possibly in Guadalajara or Monterrey, during the second half of 2024.

After experiencing significant growth in 2023, with doubled loan placements and revenue in Peru while remaining profitable, Gilardini is optimistic about the Peruvian economy in 2024. He believes there is a strong demand for Leasy’s products due to transportation conditions in the country.

As part of its regional expansion, Alex Byrne, the former country manager of Leasy’s Peruvian operation, has been appointed as the country manager for the company’s Mexican subsidiary. Tomás Zeña has taken over Byrne’s role in Peru.