March 5, 2020 / 11:53 PM / a month ago

Brazil e-commerce firm Peixe denies it is in talks to buy Grow scooter startup

MEXICO CITY (Reuters) - Brazilian e-commerce firm Peixe Urbano on Thursday denied it was in talks to acquire Latin American scooter company Grow Mobility even as a person with direct knowledge of the matter said the startup was in talks with a chairman of the firm’s board.

Reuters reported on Tuesday that Peixe was in advanced talks to acquire the electric scooter firm, with terms yet to be finalized.

But Peixe Urbano, which operates as Peixe outside of Brazil, denied the company had held any discussions with Grow, formed from the merger of Mexican electric scooter firm Grin and its Brazilian peer Yellow, about a potential acquisition.

The person with direct knowledge said Grow was in talks with investor Felipe Henriquez to sell the company.

Peixe Urbano confirmed that Henriquez was an investor in Santiago-based venture capital firm Mountain Nazca, which owns Peixe Urbano.

Henriquez’s LinkedIn profile shows that he is chairman of Peixe Urbano and a partner at Mountain Nazca. The firm is separate from Mexico-based venture capital firm Mountain Nazca, which has invested in high-profile startups such as used car platform Kavak.

Henriquez did not respond to multiple requests for comment. Grow Chairman Jonathan Lewy did not respond to a request for comment.

Reporting by Daina Beth Solomon and Julia Love in Mexico City; Editing by Matthew Lewis

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