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Tembici

Transportation · São Paulo, Brazil · Founded 2010

Tembici is a Latin American micro-mobility company founded in 2010 by Tomás Martins and Maurício Villar. The venture originated from Villar's final course project at the University of São Paulo (USP), where he implemented a bike-sharing system on campus. This academic beginning was inspired by Villar's experience with one of the world's first bike-sharing programs during his studies in Marseille, France. Initially, the company focused on private projects for residential and commercial condominiums before scaling significantly in 2017 by acquiring a larger competitor, Samba Transportes, and taking over the operation of Itaú Unibanco's bike-rental service. The company operates a technology-enabled, station-based bike-sharing system in major cities across Brazil, Argentina, Chile, and Colombia. Its business model relies on a dual revenue stream, combining user subscription fees with corporate sponsorships from major brands like Itaú Unibanco, Mastercard, and iFood. This hybrid approach has contributed to the company's financial stability, achieving a positive EBITDA and significant revenue growth. Users access the service via a mobile app to unlock bicycles from a network of stations by scanning a QR code, paying for individual trips or through various subscription plans. Tembici's fleet includes a diverse range of bicycles, such as conventional bikes, e-bikes, hand bikes, and cargo bikes, catering to a wide array of urban transportation needs. A key focus for the company is the expansion of its electric bicycle fleet, which has shown a utilization rate three times higher than conventional bikes. To support this, Tembici has invested in technology, including GPS tracking on all bikes and electrified hubs for efficient e-bike recharging. The company also serves the growing last-mile delivery market with specific plans for couriers. Tembici has secured substantial funding to fuel its expansion, including a $47 million Series B in 2020 and an $80 million Series C in 2021, enabling fleet growth and technological advancements. Keywords: micromobility, bike-sharing, urban mobility, Latin America, station-based, e-bikes, bicycle rental, sustainable transportation, smart cities, last-mile delivery, Tembici, Bike Itaú, public transportation, shared mobility, mobility-as-a-service, green technology, urban logistics, venture capital, cycling infrastructure, mobile app