Mexico City’s Grin and Sao Paulo’s Yellow, which each took in tens of millions of dollars from Silicon Valley investors to run scooter rental businesses last fall, have merged and raised $150 million in fresh capital, according to executives at both firms.
The merger is the latest sign of consolidation in the electric scooter industry, which includes at least 20 companies on several continents. The combined Latin American firm, renamed Grow Mobility, will operate in cities in Chile, Colombia and Uruguay in addition to Grin and Yellow’s home markets in Mexico and Brazil.
