Mexican electric vehicle leasing company Vemo is mulling plans to raise fresh capital through the domestic debt market to fuel its medium-term growth agenda, an executive told LatinFinance.
“We are always looking for broader sources of financing where we can continue financing,” CFO Nicolás Estrada said.
“This means we will be seeking all types of financing from multilateral funds, and considering a securitization of the portfolio. All of this is part of Vemo’s future plan,” Estrada added, without specifying the amounts being sought.
While the company does not have immediate plans to issue green bonds, such funding —which Estrada expects within the next five years — would ultimately support its loan portfolio and would also be directed toward electric vehicle charging infrastructure and fleet electrification projects for corporate clients.
In February, Vemo raised MXN1.3 billion ($64 million) in financing from Mexican lenders and investors, including Beel Credit, a non-banking financing platform focused on infrastructure and energy projects, as well as digital lender Banco Covalto and Kapital, a local fintech firm.
A year earlier, Vemo obtained $60 million from the US private equity firm Orion Infrastructure Capital to expand its e-vehicle operations.
Founded in 2021, Vemo offers electric mobility solutions including electric vehicle leasing, charging stations, and fleet management, according to the company’s website.