RIO DE JANEIRO, BRAZIL - Tembici, the mobility startup that operates Itaú's well-known bicycle rental plan, has completed a R$420 million (US$80 million) round of funding. The round, series C, was led by Crescera Capital and included two new investors, Pipo and Endeavor Catalys, joining funds IFC, Valor, Red Point, and Igah.
The funds will be used to expand the number of electric bicycles in operation. This will be the startup's big bet for the future. "The e-bike is highly anticipated by users because it expands the possibility of daily use since it facilitates longer . . .