Hefesto Asesores advises OCN in a new $86 million round of capital.

  • Hefesto Asesores, led by Federico Vázquez, advised OCN (formerly known as OneCarNow!) in the capital raising process, positioning OCN for a year of remarkable growth. This process is driven by strategic expansion plans and a commitment to become the leading financial partner of the gig economy in the Americas.

Mexico City, July 8, 2024 – The Mexican firm, Hefesto Asesores, together with Gunderson Dettmer and Legal Scale in the United States, acted as legal advisors in the most recent capital round of OCN. Hefesto Asesores advised OCN in the negotiation and Mexican portion of the structuring and execution process of a new equity round for a total of $86 million dollars. This financing has allowed OCN to capitalize and continue its expansion, positioning it for a year of remarkable growth driven by strategic expansion plans and a commitment to become the leading financial partner of the gig economy in the Americas.

OCN is a startup dedicated to providing access to financial services to gig workers across the Americas. Leveraging its advanced technology, OCN underwrites customers who are often excluded or overlooked by the formal financial system in Latin America and the United States, offering innovative solutions in the market, enabling its customers to purchase a new custom car.

The Hefesto Asesores team, led by Federico Vázquez and associate Ariadna León, accompanied OCN throughout the structured financing process, participating in negotiations with equity and debt investors. “We are very proud to continue contributing to the growth of OCN and to have accompanied them from their first investment round to date,” commented Federico Vázquez, Managing Partner of Hefesto Asesores. “We are confident that OCN will continue an accelerated growth process to become a paradigmatic startup in the region.”

“Access to financing is a major challenge for more than 4 million gig economy entrepreneurs in the Americas who serve major transportation and delivery platforms such as Uber, DiDi and Lyft,” commented Mairon Sandoval, Co-Founder and CEO of OCN. “With this new funding, we will continue to enhance our technology and operational capabilities to reach more gig economy workers in Latin America, as well as in the United States.”

The capitalization round includes participation from investors Caravela Capital, Collide Capital, and Great North Ventures. Notably, the round was structured and has a debt component provided by U.S. investment firm i80 Group.

The firms involved in this transaction:

Hefesto Asesores:
Federico Vázquez, Managing Partner
Adriana León, Associate.

Gunderson Dettmer:
Daniel M. Greene, Partner.
Daniel Gallo, Corporate Lawyer

Winston & Strawn:
Francisco Flores, Partner

Garrigues México:
Gerado Lemus, Partner
Carlos Gómez, Senior Associate

Legal Scale:
Mehak Rashid, Partner
James Cheng, Partner
Tyler Garaffa, Associate

Carey Olsen:
Alistair Russel, Partner

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