Argentina's Derenta raises $6.1M to triple its Uber rental fleet
What's the deal? DerentaDealroom has a profile for this one. Try Dealroom →, the Argentine company that rents cars to Uber drivers, placed US$3.95M bond issue in the capital markets, its Serie II notes. The 24-month debt is denominated in pesos, pays a TAMAR Privada + 0% rate, and is fully guaranteed by Banco GaliciaDealroom has a profile for this one. Try Dealroom → and Banco CMFDealroom has a profile for this one. Try Dealroom →, which also organised and placed the issue.
Why now? The raise builds on Derenta's first market outing in March 2026, US$1.94M issue at the same rate whose interest has been paid and whose first capital instalment was cancelled in September. The new issue more than doubles that first one and drew 25 bids worth $7.2 million — 1.17 times the amount placed.
What's the endgame? Founded in 2021 by Juan de la Cruz and Ignacio Mazzieri, Derenta has grown its fleet from 150 cars in late 2023 to 7,000 today, operating in the Buenos Aires metropolitan area, Córdoba, and Mar del Plata under a partnership with Uber. It targets 10,000 vehicles by the end of 2026 and 22,000 by the end of 2027 — more than triple the current fleet.
Where's the growth? Córdoba is the key expansion market, where Derenta aims to go from 100 vehicles to more than 500 before year-end. It plans to add its Flip model, which offers cars by shift, and its deRentas GO! daily rental unit aimed at tourism and business travel, with airport presence a possibility.
"This issue lets us take a concrete step toward our mission: adding vehicles so more people can access new income opportunities," said Juan de la Cruz, chief executive officer and cofounder. (translated from Spanish)
The signal: Chief financial officer Juan de Larminat framed the capital markets as a lever for scale, noting that as the business grows, Derenta may move toward issuing under the general regime. For a startup, tapping bond markets twice in one year — with oversubscribed demand — signals investor confidence in an asset-heavy, fleet-financing model tied to gig-economy demand.
Read more: startupslatam.com
Image credit: Generated with Gemini
