The online car rental industry in Latin America has blossomed in recent years, driven by growing demand for seamless mobility solutions. Companies range from global giants to innovative startups, offering services like car subscriptions, traditional rentals, and ride-sharing options. The surge in smartphone penetration, coupled with urbanization, encourages a shift toward flexible transportation alternatives. Emerging platforms are integrating advanced technology for enhanced user experience, including contactless rentals and eco-friendly vehicle options. Insights show that consumers increasingly favor subscription models, signaling a potential transformation in how car ownership is perceived and managed in the region.

This article highlights 17 investors actively shaping the online car rental space in Latin America. Predominantly venture capitalists based in Brazil and Argentina, these investors vary in size and approach, with most founded in the last two decades. In 2024 alone, firms like Canary and Monashees executed multiple deals, showcasing their commitment to fostering growth in transportation. The collection illustrates diverse strategies shaping the industry's future while addressing the urgent need for innovative mobility solutions through significant capital investment.

Top 17 Online Car Rental Investors in Latin America

1. bossa invest

• Website: bossainvest.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 56
• LinkedIn: bossainvest

Bossa Invest is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm specializes in investing in innovative startups, particularly in the technology sector, and provides capital, strategic guidance, and access to a network of co-investors. Bossa Invest has been involved in several notable transactions in the online car rental context, including a significant investment in Kovi, a car subscription startup that raised $100 million to expand its operations in Latin America. Additionally, Bossa Invest has invested in Turbi, which has raised funds through multiple rounds, including a Series A round of approximately $2.7 million. These transactions highlight Bossa Invest's commitment to supporting growth in the online car rental industry while also fostering innovation in the broader startup ecosystem.

2. Monashees

• Website: monashees.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 18
• LinkedIn: monashees-capital

Monashees is a venture capital firm based in Sao Paulo, Brazil, founded in 2005. The firm specializes in investing in technology-based companies across Latin America, providing entrepreneurs with funding, talent acquisition support, and access to a network of industry experts. Notably, Monashees has been involved in several key transactions in the online car rental sector, particularly with Kovi, a car subscription startup. They participated in Kovi's funding rounds, including a Seed round of $10.6 million in March 2019, a Series A round of $30 million in November 2019, and a Series B round of $100 million in August 2021. These investments highlight Monashees' active role in the online car rental industry, showcasing their commitment to supporting innovative mobility solutions in Latin America.

3. Kaszek

• Website: kaszek.com
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2011
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: kaszek-ventures

Kaszek is a venture capital firm based in Sao Paulo, Brazil, founded in 2011. The firm focuses on investing in and supporting entrepreneurs across various technology-driven industries in Latin America. With a commitment to fostering a vibrant technology ecosystem, Kaszek provides capital and strategic guidance to startups. Among their notable transactions, they have invested in Volanty, a Brazilian startup that facilitates vehicle transactions and has been recognized as one of the 100 Startups To Watch. They also invested in Urbvan, a private transportation shuttle service in Mexico, and Kavak, a platform for buying and selling used cars. These investments highlight Kaszek's engagement in the automotive and transportation sectors, making them a relevant player in the online car rental space.

4. Norte Ventures

• Website: norte.ventures
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2020
• Headcount: 1-10
• Number of deals in 2024: 11
• LinkedIn: norteventures

Norte Ventures is a venture capital firm based in Sao Paulo, Brazil, founded in 2020. The firm focuses on empowering startups and fostering innovation in the Brazilian market, particularly within the technology sector. They provide resources, consulting services, and educational materials to help entrepreneurs navigate the challenges of building and scaling their businesses. Notably, Norte Ventures has been involved in significant transactions in the online car rental context, particularly with Kovi, a car subscription startup. Kovi raised a total of $16 million in funding across two rounds, including a Seed Round in 2019 and a Series B round in 2021, which highlights Norte Ventures' engagement in the online car rental industry. This involvement underscores their commitment to supporting innovative transportation solutions in Latin America.

5. Canary

• Website: canary.com.br
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 23
• LinkedIn: canary-venture-capital

Canary is a venture capital firm based in Sao Paulo, Brazil, founded in 2017. The firm specializes in early-stage investments across Latin America, providing capital, co-founding assistance, and fostering a strong community of entrepreneurs. Canary has been involved in several notable transactions, including investments in Buser, a platform for shared charter and bus services, which received significant funding to expand its services in the domestic tourism market. Additionally, Canary participated in the funding of Volanty, a startup that facilitates the sale of used vehicles, indicating its engagement with the automotive sector. These investments reflect Canary's commitment to supporting innovative companies in the transportation and automotive industries, aligning with the interests of online car rental services.

6. Magma Partners

• Website: magmapartners.com
• Type: Venture Capital
• Headquarters: Providencia, Santiago, Chile
• Founded year: 2014
• Headcount: 11-50
• Number of deals in 2024: 6
• LinkedIn: magma-partners

Magma Partners is a venture capital firm based in Providencia, Santiago, Chile, founded in 2014. The firm specializes in investing in early-stage startups across Latin America, focusing on sectors such as fintech and insurtech. With over 125 companies backed, Magma Partners aims to address significant regional challenges and support scalable technology businesses. Notably, they have invested in LEASY, a Peruvian startup that raised $28 million in a Series A round in March 2024, and previously secured $2 million in equity and $15 million in debt to provide auto loans to ride-hailing drivers. This involvement highlights their interest in the automotive financing sector, which is closely related to online car rental services. Additionally, they have participated in funding rounds for other startups, showcasing their active role in the investment landscape.

7. Mercadolibre.com

• Website: mercadolibre.com
• Type: Corporate
• Headquarters: Buenos Aires, Buenos Aires, Argentina
• Founded year: 1999
• Headcount: 1001-5000
• Number of deals in 2024: 3
• LinkedIn: mercadolibre-com

Mercado Libre is an e-commerce platform founded in 1999, based in Buenos Aires, Argentina, that facilitates online buying and selling across various product categories, including electronics, clothing, and home goods. As a corporate investor, Mercado Libre has actively participated in the investment landscape, particularly through its MeLi Fund. Notably, they invested in Carflix, a company that raised funds in December 2020, which is directly related to car rentals. Additionally, they participated in Arrow Mobility's seed round in January 2023, indicating a focus on mobility solutions. Their involvement in the insurtech sector through investments in 123Seguro and Pier also highlights their interest in the automotive ecosystem, as these companies provide insurance solutions for vehicles, which is relevant to car rental operations. Overall, Mercado Libre's diverse investment portfolio includes significant transactions that connect to the online car rental industry.

8. Liil Ventures

• Website: liil.city
• Type: Venture Capital
• Headquarters: Mexico City, Mexico City, Mexico
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: liil-ventures

Liil Ventures is a venture capital firm based in Mexico City, founded in 2017. The firm is dedicated to enhancing urban living through smart city and mobility solutions, investing in early-stage companies that address urban challenges. They leverage their extensive network to provide strategic support to entrepreneurs in technology and transportation sectors. Notable transactions include a significant investment in Cabify, a ride-hailing service that raised $160 million in a Series E round, and BusUp, a corporate bus commuter management solution that raised over $14 million in a recent venture round. These investments highlight Liil Ventures' commitment to supporting innovative mobility solutions that improve urban transportation.

9. Onevc

• Website: onevc.vc
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 9
• LinkedIn: onevc

ONEVC is a venture capital firm based in Sao Paulo, Brazil, founded in 2017. The firm specializes in seed-stage investments across Latin America, providing financial backing and operational assistance to startup founders. Onevc has been particularly active in the online car rental space, having invested in Kovi, a car subscription startup, through multiple funding rounds: a Seed Round of $10.6 million in March 2019, a Series A of $30 million in November 2019, and a Series B of $100 million in August 2021. This involvement highlights Onevc's commitment to supporting innovative solutions in the car rental industry, alongside their broader investment strategy.

10. Chile Ventures

• Website: chileventures.vc
• Type: Venture Capital
• Headquarters: Santiago, Santiago, Chile
• Founded year: 2015
• Headcount: 1-10
• Number of deals in 2024: 5
• LinkedIn: chile-ventures

Chile Ventures is a venture capital firm based in Santiago, Chile, founded in 2015. The firm specializes in investing in technology startups, particularly those with recurring revenue models, and provides financial support ranging from $50k to $500k. They focus on small and medium enterprises in Latin America, addressing their need for access to financial products and growth resources. Notably, Chile Ventures has invested in Awto, which raised $6 million in a Series A round in October 2021, directly linking them to the online car rental industry. Additionally, they have participated in other technology-focused investments such as Wift, Rocketfy, SimpliRoute, and Leasity, showcasing their commitment to supporting innovative startups across various sectors.

11. Ext Capital

• Website: extcapital.com.br
• Type: Corporate
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2022
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn: ext-capital

EXT Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2022. The firm specializes in providing funding and investment management services to technology startups, with a focus on innovative funding solutions tailored to the needs of their portfolio companies. Notably, EXT Capital has made significant investments in the mobility sector, including a $16.4 million funding round for Turbi, a Brazilian startup that aims to expand its fleet by adding 1,000 new vehicles. Additionally, they led a $10 million investment in Fretadão, a corporate transportation startup, to help expand its vehicle fleet and user base. These transactions highlight EXT Capital's commitment to supporting the growth of online car rental services and their strategic focus on the mobility sector.

12. Invariantes Fund

• Website: invariantes.com
• Type: Venture Capital
• Headquarters: Guatemala
• Founded year: 2015
• Headcount: 1-10
• Number of deals in 2024: 3
• LinkedIn: invariantes-fund

Invariantes Fund is a venture capital fund founded in 2015, based in Guatemala, that specializes in investing in early-stage startups across the US and Latin America. The fund focuses on technology-driven companies, particularly in software and hardware sectors, providing not only capital but also strategic support to help startups connect with potential clients and investors. Notably, Invariantes Fund invested $300 million in Getaround during its Series D funding round in August 2018, which is a significant player in the online car rental market. This investment highlights their engagement in the online car rental industry, alongside other investments in diverse sectors such as pet care and financial technology.

13. INCA Ventures

• Website: incaventures.com
• Type: Corporate
• Headquarters: Miraflores, Lima, Peru
• Founded year: 2018
• Headcount: 1-10
• LinkedIn: inca-ventures

INCA Ventures is a venture capital firm based in Miraflores, Lima, Peru, founded in 2018. The firm specializes in investing in early-stage fintech startups within the Andean region, aiming to address financial gaps and foster economic growth. Notably, INCA Ventures participated in the funding of Leasy, a Peruvian startup that has raised $2 million in equity and $15 million in debt to provide auto loans to ride-hailing drivers, showcasing their engagement in the automotive finance sector. Other transactions include investments in startups like Aptuno and Castia, which, while not directly related to car rentals, reflect their commitment to supporting innovative solutions in the region. Their focus on financial solutions for drivers aligns them with the online car rental industry, making them a relevant player in this space.

14. Caravela Capital

• Website: caravela.capital
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2019
• Headcount: 11-50
• Number of deals in 2024: 5
• LinkedIn: caravelacapital

Caravela Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2019. The firm focuses on backing entrepreneurs and early-stage companies, providing funding and mentorship to help startups grow, particularly in technology and innovation. Among their notable transactions, Caravela Capital invested in Mottu, a motorcycle rental platform for delivery, which received a $2 million seed investment from them in July 2020. This investment highlights Caravela's engagement in the online rental space. Additionally, they participated in funding rounds for other startups, such as SuaQuadra, which, while not directly related to car rentals, showcases their active role in supporting emerging companies. Overall, Caravela Capital's investment in Mottu positions them as a relevant player in the online car rental industry.

15. Stella Maris Partners

• Website: stellamaris.mx
• Type: Venture Capital
• Headquarters: Monterrey, Nuevo Leon, Mexico
• Founded year: 2012
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: stella-maris-partners

Stella Maris Partners is a venture capital firm based in Monterrey, Nuevo Leon, Mexico, founded in 2012. The firm specializes in investing in early-stage companies that demonstrate a strong social impact, providing seed capital and support to entrepreneurs. Notably, Stella Maris Partners has participated in significant transactions within the online car rental context, including investments in Bipi, which raised over $7 million in Series A funding in 2019 and $2.9 million in a Seed Round in 2017. These investments highlight their commitment to supporting innovative solutions in the mobility sector, contributing to economic growth in Mexico.

16. Maya Capital

• Website: maya.capital
• Type: Venture Capital
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2018
• Headcount: 1-10
• Number of deals in 2024: 8
• LinkedIn: mayacapital

MAYA Capital is a venture capital firm based in Sao Paulo, Brazil, founded in 2018. The firm specializes in seed stage investments in startups across Latin America, providing not only financial backing but also strategic support in areas such as hiring, market entry, and fundraising. They primarily target early-stage entrepreneurs looking to grow their businesses in various sectors, including technology and healthcare. Notably, Maya Capital has been involved in significant transactions within the online car rental context, particularly with Kovi, a car subscription startup. They participated in Kovi's seed round in March 2019, followed by a Series A investment in November 2019, and further funding in a Series B round in August 2021. This consistent support for Kovi highlights their commitment to the online car rental industry, alongside their investments in other sectors such as real estate technology through companies like Alude.

17. PIPO Capital

• Website: pipo.capital
• Type: Corporate
• Headquarters: Sao Paulo, Sao Paulo, Brazil
• Founded year: 2021
• Headcount: 1-10
• LinkedIn: pipo-capital

PIPO Capital is an investment management firm based in Sao Paulo, Brazil, founded in 2021. The firm specializes in alternative investment solutions, offering growth equity, growth debt, and fund of funds to high-net-worth individuals and institutional investors. PIPO Capital leverages its extensive industry connections to provide clients with access to exclusive venture capital opportunities, helping them diversify their investment portfolios. Notably, PIPO Capital was involved in a significant investment in Kovi, a car subscription startup, which received a $100 million investment to expand its operations in Latin America. This transaction highlights PIPO Capital's engagement in the online car rental space, showcasing their interest in innovative mobility solutions.

Online Car Rental Insights: Key Investors in Latin America

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