Brazilian mobility tech firm Turbi has secured a $5.6 million credit facility from Banco Santander to bolster its financial position and fuel operational enhancements. This strategic funding follows a period of significant expansion, with the company on track to achieve nearly $74.7 million in revenue this year. The new capital will support platform features and efficiency projects, reinforcing Turbi's strong growth trajectory in the competitive urban mobility sector.
Strategic Funding for Sustained Growth
The R$ 30 million operation will reinforce the company's cash reserves and sustain its momentum in developing key operational efficiencies. According to Eduardo Portelada, Director of Investor Relations, these funds will support projects aimed at enhancing user experience and profitability. This move underscores a proactive approach to maintaining a strong financial foundation while pursuing innovation and service improvements for its growing customer base.
This transaction follows the acquisition of 1,400 vehicles in the third quarter, an expansion enabled by a previous credit line from Itaú. Portelada noted that securing consecutive financing from two of Brazil's leading banks is a powerful endorsement of Turbi's credit quality. It signals strong confidence from the financial market in the company's business model and its proven capacity for sustainable growth.
Impressive Fleet and Revenue Expansion
Turbi's rapid scaling is evident in its fleet, which now totals approximately 7,000 vehicles across the São Paulo metropolitan area. This represents an expansion of over 100% compared to 2024, solidifying its position among Brazil's top four B2C car rental companies. This aggressive growth is a core part of its strategy to capture greater market share and achieve significant economies of scale.
The company's financial performance has kept pace, posting a record consolidated net revenue of R$ 113 million in the third quarter. This figure marks an 83.4% increase year-over-year and a 37.6% jump from the second quarter of 2025. These results reflect the successful integration of new vehicles into the fleet and consistently high demand for its flexible mobility services.
Balancing Profitability with Rapid Scaling
Despite significant capital expenditure, Turbi has demonstrated exceptional financial discipline. The company achieved an EBITDA margin of 54.5% in the third quarter, marking the tenth consecutive month this key profitability metric has exceeded 50%. This consistency highlights the robustness of its operating model, which successfully manages costs while scaling at an accelerated rate in a competitive market.
Daniel Prado, CEO and co-founder, attributes this success to a combination of proprietary technology, disciplined operational management, and increasing scale. He stated that the company is effectively doubling in size each year, resulting in an increasingly profitable and efficient operation. This synergy allows Turbi to maintain healthy margins even during its most intensive growth phases, a key differentiator in the industry.
Innovative Business Model and Future Outlook
Turbi's competitive edge is built on a fully digital, app-based customer experience that eliminates the hurdles of traditional car rentals. Its model offers flexible options, from hourly rentals to monthly subscriptions, with vehicles available 24/7 across 300 partner parking lots. This lean, tech-centric structure enables the company to compete effectively with established industry players by offering superior convenience.
Looking ahead to the fourth quarter, a traditionally strong period for the industry, Prado is optimistic about improving financial results. He anticipates a favorable convergence of factors, including better vehicle acquisition terms, the dilution of fixed costs, and lower capital costs. This strategic positioning is expected to empower Turbi to capture even stronger margins and continue its impressive performance into the new year.
Turbi's latest $5.6 million in funding is a testament to its strategy of blending rapid growth with strong profitability. The company's record-breaking third-quarter results and consistent high margins underscore the efficiency of its technology-driven business model. As it continues to expand its fleet and enhance its platform, Turbi is well-positioned to solidify its leadership in Brazil's dynamic urban mobility landscape.