Foley & Lardner represented Brazilian startup Gringo in its $8 million Series A financing. The latest funding round was led by Kaszek, with participation from GFC and OneVC, and brings Gringo’s total investment to $10 million since its inception in 2019.
Gringo built an app aimed at supporting drivers in a variety of ways, such as helping drivers monitor and perform services related to their documents and vehicles. Gringo’s 2.5 million users can utilize the app to monitor, manage, and pay for documentation, such as their driver licenses and vehicle registration. They can also pay taxes and fines through the app.
Gringo will use its new capital mainly to expand into new services for drivers, toward hiring, and continuing their expansion within Brazil, and eventually into Latin America. According to founder and CEO Rodrigo Colmonero, the company is reinvesting all its profits in “growth into Brazil and later in Latin America.”
The Foley deal team was led by Partner André Thiollier and included Associate Courtney King with assistance from Nick Fletcher and Savannah Hatcher.