“Can a Latin American no-credit-check car rental platform become the default financial gateway for ride-hailing drivers who are locked out of traditional auto financing?”
Founded in 2018 to serve Latin American ride-hailing drivers who cannot afford to own a vehicle, Kovi built an asset-light car rental platform for Uber/99/inDrive drivers with no credit check required. After scaling across Brazil and Mexico with over $200M raised, the company was acquired and now operates as a subsidiary of Moove Vehicle Limited. Its embedded-finance surface is limited: PIX and boleto collections for weekly rentals, an internal 'Kovi Próprio' rent-to-own program, but no card issuance, banking, or third-party BaaS tooling is publicly disclosed.
Kovi moves money over Pix.
Kovi's lending and capital products are provided by Kovi Próprio (in-house rent-to-own).
The Embedded Finance Index 2026 maps 2 layers in Kovi's stack: Money movement (Pix); Lending (Kovi Próprio (in-house rent-to-own), Kovi Próprio 2.0 — rent-to-own vehicle plan with purchase option after 13 months, Kovi Mensal, Kovi Flexível and 1 other).
Kovi is founded in 2018 and headquartered in São Paulo, Brazil.
Kovi has raised ~$204.7M in total (latest round: Series B, 2021).
Get a read on where your own stack stands against Kovi and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.