Kovi is a São Paulo-based mobility startup that rents cars to on-demand drivers working for ride-hailing platforms such as Uber, 99/Didi and Lyft, as well as delivery couriers. Founded in 2018 by former 99 executives Adhemar Milani Neto (CEO) and João Costa (CTO/CPO), Kovi operates an asset-light fleet model with rental agreements with OEMs including Toyota and Volkswagen, bundling vehicles with insurance, maintenance and connected-car telematics. The company offers flexible weekly subscriptions and a rent-to-own pathway aimed at gig workers who cannot access traditional auto financing. Kovi operates in Brazil and Mexico and was acquired by Uber-backed mobility fintech Moove in January 2025 in an all-share transaction, with the Kovi brand and management team retained post-acquisition.
Kovi has been acquired
This company is no longer available on our private secondary market.
Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Founded
2018
Employees
1,000–1,500
Total Funding
$134.15M
3 rounds
Total raised $134.15M across 3 rounds
Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.
Last updated 06-25-2026
Latest Round
Type
Series B
Date
August 18, 2021
Amount
$104M
Valuation
—
Lead Investors
| Date | Round | Amount Raised | Valuation | Lead Investors |
|---|---|---|---|---|
| August 18, 2021 | Series B | $104M | — | Valor Capital Group, Prosus Ventures |
| March 18, 2019 | Seed | $150K | — | Not disclosed |
| 2019 | Series A | $30M | — | Global Founders Capital |
Adhemar Milani Neto
Co-Founder & CEO
João Costa
Co-Founder & CTO/CPO
Competitor list is illustrative and may be incomplete, stale, or erroneous.
Moove
Uber-backed African-born mobility fintech offering vehicle financing to ride-hailing and delivery drivers globally; acquired Kovi in January 2025.
Localiza
Brazil's largest car rental company, publicly listed (B3: RENT3); operates rental and fleet management with growing exposure to ride-share driver leasing.
Movida
Brazilian car rental and fleet management company (B3: MOVI3), part of JSL/Simpar group; competes for ride-hailing and gig-driver rentals.
Unidas
Brazilian fleet and car rental operator, now part of Localiza Group; competes in long-term rental and driver fleet supply.
Yuca
Brazilian mobility startup offering car subscription for ride-share drivers and consumers in São Paulo.
Karvi
Latin American auto marketplace and rent-to-own platform for ride-hailing drivers operating in Brazil and Argentina.
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