INSUBCONTINENT EXCLUSIVE:
As cities in emerging markets grapple with increasingly traffic-clogged and dangerous streets, Urbvan, a startup providing private, high-end
transportation shuttles in Mexico, has raised $9 million in a new round of financing.Co-founded by Joao Matos Albino and Renato Picard,
Urbvan is taking the reins from startups like the now-defunct Chariot and tailoring the business for the needs of emerging-market
ecosystems.Hailing from Portugal, Albino arrived in Mexico City as a hire for the Rocket Internet startup Linio
Picard.The two men saw the initial success of Chariot as it launched from Y Combinator, but were also tracking companies like the Indian
started operating back in 2016
At the time it had five vans that it leased and retrofitted to include amenities like Wi-Fi and plenty of space for a limited number of
The company has expanded significantly since those early days
It now claims more than 15,000 monthly users and a fleet of 180 vans.Urbvan optimized for safety as well as comfort, according to Albino
The company has deals with WeWork, Walmart and other retailers in Mexico City, so that all the stops on a route are protected and safe
The company also vets its drivers and provides them with additional training because of the expanded capacity of the vans.Each van is also
equipped with a panic button and cameras inside and out for additional monitoring.Customers either pay $3 per ticket or sign up for a
monthly pass that ranges from $100 to $130.Financing for the company came from Kaszek Ventures and Angel Ventures, with previous investor
