OneCarNow!

OCN, formerly known as OneCarNow, is a Mexican fintech company that provides subscription-based vehicle financing and rental services specifically designed for gig economy workers in Mexico and the United States. Founded in 2021 by Mairon Sandoval and Manuel Cangas and headquartered in Mexico City, the company addresses a critical financial inclusion gap by serving ride-hailing drivers for platforms like Uber and DiDi who are typically excluded from traditional auto financing. The company operates as a financial platform that offers flexible car rental options with weekly payment plans that include maintenance, insurance, and vehicle procedures, with an option to purchase the vehicle after three years. OCN utilizes proprietary AI-powered technology for underwriting, risk assessment, and fleet management, evaluating applicants through multiple data sources including ride-share performance metrics, open-banking data, background checks, and remote home visits. The approval process takes less than 90 minutes, with vehicle delivery within two business days. In July 2024, the company raised $86 million in Series A funding through a mix of equity and debt led by Caravela Capital, Collide Capital, Great North Ventures, and i80 Group. Currently operating across 22 states in Mexico, including major cities like Mexico City, Monterrey, and Guadalajara, OCN has also expanded into South Florida and serves over 25,000 customers. The company has built its entire technology stack in-house, including customer experience systems, asset management platforms, and payment infrastructure. OCN maintains a single-digit monthly default rate and has announced plans to expand into Brazil and other Latin American markets, positioning itself as a comprehensive financial services platform for gig workers across the Americas.