OCN, a dynamic Mexican start-up, is making waves with a major US $150 million investment to revolutionize car rental services for gig workers across Mexico. The plan? To expand their fleet threefold, going from 5,000 to 15,000 vehicles within the next year and a half. This ambitious project primarily targets ride-hailing drivers situated in major cities like Mexico City, Monterrey, Guadalajara, Tijuana, and Querétaro.
Gig workers face hurdles when it comes to obtaining credit for vehicle financing due to their non-traditional jobs. OCN addresses this issue with an innovative approach. They’ve embraced risk-assessment tools to craft a flexible week-to-week payment model, which includes insurance and maintenance. There’s even an option for drivers to buy the car eventually. This initiative opens up opportunities for gig workers who need reliable transportation to succeed.
Beyond Mexico, the investment will fuel OCN’s broader goals, particularly in the U.S. and Brazilian markets. These efforts come on the heels of a successful Series B funding round, a strategic move amidst declining venture capital investments in Latin America. OCN’s forward-thinking strategy aims to tap into underserved markets with tech-driven solutions that support the growth of the gig economy.
For more details, see the full article on Mexico News Daily.
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