Uber invests in Latin American motorcycle lender Galgo

Uber Technologies has invested in Galgo, a Latin American lender specializing in motorcycle financing, to support gig workers in the region.

The investment aims to provide financing options for delivery drivers who rely on motorcycles for last-mile services, a sector experiencing rapid growth amid rising demand for on-demand delivery platforms. Galgo, which operates in multiple Latin American countries, offers loans tailored to gig workers, enabling them to acquire or upgrade vehicles essential for their operations.

The move aligns with Uber’s broader strategy to strengthen its presence in Latin America, where gig economy participation has surged in recent years. The company has previously expanded its delivery services in the region, including partnerships with local businesses and investments in logistics infrastructure.

Financial terms of the investment were not disclosed. Galgo’s focus on motorcycle financing addresses a critical gap in access to credit for informal and semi-formal gig workers, who often lack traditional collateral required by conventional lenders.

The investment underscores Uber’s commitment to supporting the gig workforce, which forms the backbone of its delivery and ride-hailing operations globally.