| Founded | 2018 |
|---|---|
| Closed | 2023 |
| Country | Brazil |
| Sector | Mobility |
| Total raised | ~$100M (QED, 2018–2022) |
| Collapse type | Mass Layoff Spiral |
| Founder | João Costa |
Kovi
"Brazil's car subscription platform for gig drivers stalled when rising vehicle costs and insurance claims eroded every unit of margin"
Cascading layoffs that accelerated the decline
Key Events Timeline
Kovi provided car subscriptions specifically to rideshare and delivery drivers in Brazil — a market with genuine demand from gig workers who couldn't afford car ownership.
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