123 Lease
Car leasing services.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $30.0m | Growth Equity VC | |
| Total Funding | 000k | ||
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123 Lease, established in 2014, operates within the Mexican financial sector, specializing in pure leasing solutions for productive assets. The company primarily targets individuals with business activities and small to medium-sized enterprises (SMEs), a market segment historically underserved in Mexico. Its business model revolves around providing clients with the use of new vehicles without an option to purchase at the end of the contract, which can offer certain tax advantages. This structure allows customers to access modern mobility tools, manage fleet renewal, and avoid the significant capital outlay of purchasing vehicles outright.
Revenue is generated through initial down payments and subsequent monthly rental payments from clients. These monthly installments cover the vehicle rental, damage insurance, and, for clients with three or more vehicles, access to a GPS monitoring and control platform. The firm's offerings are designed to be flexible, with customized plans tailored to client needs and services that include maintenance management, registration, and fines. By handling all vehicle-related services, 123 Lease allows its clients to focus on their core business operations while minimizing expenses associated with obsolete vehicle fleets.
A significant milestone for the company occurred in September 2023, when it secured $30 million in financing from the Emso Private Credit Fund. This capital injection, identified as a Series B round, was earmarked to expand its light-vehicle fleet and accelerate growth to meet its objectives for 2023 and 2024. The financing was noted by CEO Octavio H. Vázquez Zarattini as crucial for enhancing mobility for individuals and SMEs in Mexico. The company, headquartered in Mexico City, has been operational since 2014 and continues to focus on strengthening its position in the national leasing market.
Keywords: pure leasing, vehicle leasing Mexico, SME financing, asset financing, fleet management, automotive leasing, business vehicle solutions, financial services Mexico, equipment leasing, Octavio H. Vázquez Zarattini, Emso Private Credit Fund, operating lease, car rental for business, B2B leasing, productive assets, vehicle fleet renewal, tax-deductible leasing, mobility solutions, Mexican fintech, commercial vehicle leasing