Galgo secures $55M credit facility from BBVA Spark

Chilean motorcycle financing platform Galgo has secured a $55 million credit facility from BBVA Spark to expand its operations in Mexico. The digital application-based company provides motorcycle financing to customers such as independent workers and delivery drivers. With the new credit line, Galgo aims to finance additional motorcycles and bolster its credit portfolio in Mexico.

Since entering the Mexican market in 2022, Galgo has financed over 40,000 motorcycle purchases and currently issues more than 3,500 new motorcycles each month. The company's credit presence extends across Mexico, Colombia, and Chile, having granted credit to more than 200,000 individuals through a network of over 1,500 partner stores.

Galgo currently finances approximately 7,500 motorcycles per month across the three markets and has reported more than 50% annual growth while maintaining profitable operations.