Accial Capital backs Millennium Mobility with a US$40 million credit line

Millennium Mobility, the Peruvian mobility fintech focused on financing solutions for ride-hailing and delivery drivers, has secured a US$40 million credit line from Accial Capital. The funds will support the company’s continued growth in Lima and expand access to vehicle ownership for workers underserved by the traditional financial system in the gig economy.

New capital to accelerate growth

Founded by Tommy Linares and Henry Saldaña, Millennium Mobility operates under the Lima Bikes and Lizzo brands, offering financing for motorcycles and cars used by drivers working on ride-hailing and delivery platforms.

The new US$40 million credit line will allow the company to expand its financing platform and make vehicles more accessible to workers who often face obstacles when applying for traditional auto loans.

Since beginning operations in 2020, Millennium Mobility has financed more than 10.000 vehicles, using technology and artificial intelligence to speed up evaluation processes and approve applications in as little as 48 hours.

Bridging gaps in traditional auto financing

A significant portion of Millennium Mobility’s customer base has historically been excluded from conventional financial services. Many applicants struggle to access financing because of informal income, limited credit histories, or immigration status.

The company’s model aims to reduce these barriers through a structured financing alternative that allows drivers to access income-generating assets while working toward vehicle ownership.

According to the company, 92% of Lima Bikes customers had no prior credit history before obtaining financing through the platform. In addition, 82% of users are immigrants, primarily from Venezuela.

Technology and artificial intelligence at the core of the model

Millennium Mobility has built its credit infrastructure around technology-driven processes and artificial intelligence-powered assessment models. This approach makes it possible to evaluate applications more efficiently and offer financing to people who do not always meet traditional financial institutions’ criteria.

The company’s financing structure is designed to suit the realities of gig economy workers. Borrowers make weekly payments, aligned with the typical income cycles of ride-hailing and delivery drivers.

The platform also includes safeguards for users. Under this model, voluntarily returning the vehicle can extinguish any outstanding balance, reducing the financial burden on those who cannot continue with their financing agreements.

Promoting financial well-being and asset ownership

The US$40 million credit line granted by Accial Capital is structured as an asset-backed financing solution, with an emphasis on financial well-being and responsible lending practices.

By offering a formal alternative to informal vehicle rental arrangements, Millennium Mobility aims to help drivers achieve greater operational stability and build long-term wealth through asset ownership.

The company’s model directly connects access to transportation with income generation, creating opportunities for workers who might otherwise remain excluded from the traditional financial system.

Accial Capital backs inclusive credit models

For Accial Capital, this transaction reflects its focus on supporting technology-enabled financial solutions in emerging markets.

The firm highlighted Millennium Mobility’s combination of asset-backed financing, data-driven decision-making, and responsible credit structures as key factors behind this new credit line.

With this new capital available, Millennium Mobility is positioned to continue expanding its reach among ride-hailing and delivery drivers in Peru, while advancing financial inclusion through vehicle ownership and access to more affordable credit solutions.