VEMO, a company at the forefront of Mexico's clean mobility transition, has announced a significant milestone in its growth journey with a $250 million commitment led by Vision Ridge Partners. This infusion of capital marks a pivotal moment for VEMO, enabling it to scale its operations and deepen its impact on the country's evolving transportation landscape. The funding will be used to expand public electric vehicle charging infrastructure, deploy more EVs across Mexico, and enhance its technology-driven fleet management solutions.
Founded with a mission to reshape mobility through electrification, VEMO has built a vertically integrated platform that combines electric vehicles, charging networks, and fleet technology into a unified ecosystem. This approach allows the company to serve a wide range of clients, from individual drivers to large-scale fleet operators, while also supporting the broader development of Mexico's public EV charging network. VEMO's business model is designed to generate its own demand through strategic initiatives like VEMO Impulso, Latin America's first lease-to-own EV program developed in partnership with ride-hailing giants Uber and DiDi, and VEMO Conduce, which provides tailored fleet solutions for commercial users.
The investment from Vision Ridge Partners adds a new layer of momentum to VEMO's expansion. Vision Ridge has a track record of backing high-growth platforms in the electrified transportation space, and VEMO becomes the seventh such company in its portfolio. This partnership not only brings financial strength but also strategic insight, helping VEMO navigate the complexities of scaling clean mobility infrastructure in a rapidly changing market.
With this latest commitment, VEMO's total equity raised now exceeds $350 million, including early support from Riverstone Holdings. The company has also secured more than $150 million in debt financing from a mix of global and local investors, including Orion Infrastructure Capital and specialized Mexican lenders such as BEEL Infrastructure Partners, PROMECAP, Covalto, and Kapital. Altogether, VEMO has raised over $500 million to date, establishing a foundation that will support its long-term vision.
Looking ahead, VEMO plans to invest more than $1.5 billion over the next five years to accelerate the deployment of clean mobility solutions across Mexico. This investment will be directed toward expanding its EV fleet, building out charging infrastructure, and refining its technology platform to deliver smarter, more efficient fleet management services. The company's strategy is rooted in the belief that electrification must be accessible, scalable, and deeply integrated into everyday transportation systems.
VEMO's growth is unfolding at a time when Mexico is beginning to embrace the shift toward sustainable mobility. Urban centers are grappling with pollution and congestion, and there is a growing recognition that electric vehicles and smart infrastructure can play a transformative role in addressing these issues. VEMO is positioning itself not just as a service provider, but as a catalyst for change -- working with public and private partners to build a cleaner, more resilient transportation future.
KEY QUOTES:
"This investment marks a key milestone in VEMO's history, following years of relationship-building and strategic alignment with Vision Ridge. With this commitment, we believe VEMO is well positioned to enter its next phase of growth alongside a partner that brings deep sector expertise in electrified mobility, conviction in our team, and a shared vision for the future of transportation."
Germán Losada, Co-Founder, Chairman, and COO of VEMO
"This partnership is grounded in complementary values, a like-minded approach, and a deep understanding of what it takes to build integrated, high-impact businesses in nascent and rapidly evolving markets. Vision Ridge brings significant global insight into sustainable asset development, along with a demonstrated capacity to support platform-scale transitions for businesses like ours."
Roberto Rocha, Co-Founder and CEO of VEMO
"We firmly believe the electrified transportation sector is both a key pillar and beneficiary of the ongoing global transition to sustainability. We are excited to support Roberto, Germán, and the entire VEMO team, whose combined vision, execution, and purpose we believe position the Company to capitalize upon the shift toward more resilient and sustainable transportation systems in Mexico's emerging EV market."
Reuben Munger, Founder, Managing Partner, and Chief Investment Officer of Vision Ridge