VEMO and BEEL Close First-of-Its-Kind MXN $500 Million Financing to Scale Mexico’s Leading Public EV Charging Network
- BEEL provides the first-ever infrastructure facility for public electric vehicle charging network in Latin America.
- VEMO to deploy proceeds to future-proof Mexico’s charging infrastructure—enabling large-scale EV adoption and accelerating the transition to clean mobility.
Mexico City, July 10, 2025
VEMO, a Mexican company leading the transition to clean mobility in Latin America, announced today it has secured MXN $500 million in a 12-year financing from BEEL, the largest private credit investor in infrastructure, energy, and real asset projects in Mexico, with over US$ 600 million in assets under management, including from various local pension funds, insurance companies, and international development financial institutions.
The funds will be used to accelerate the growth of the VEMO Charging Network (VCN), Mexico’s most robust and reliable public charging network for electric vehicles (EVs).
This transaction reinforces VEMO’s leadership in clean mobility infrastructure and marks a key milestone in building the nationwide public network required to make electric mobility accessible at scale across the country.
“This marks a turning point. Long-term, scalable, asset-backed financing for EV public charging infrastructure of this kind simply doesn’t exist elsewhere in Mexico—or Latin America,” said Pablo Sansot, General Counsel at VEMO. “This structure validates not only the strength of our business model, but also our team’s ability to execute and our vision to electrify mobility through an integrated approach, with charging infrastructure as its core pillar.”
“This represents the third financing we’ve structured with VEMO, following our support for their electric mobility initiatives, including the Metrobús public transport project in Mexico City and the national rollout of VEMO Impulso’s lease-to-own EV program. This transaction allows a benchmark operator like VEMO to accelerate the deployment of critical EV public charging infrastructure across Mexico, underscoring our ongoing commitment to backing visionary entrepreneurs driving the energy transition through scalable, high-impact projects. Private credit solutions like this one offer companies with more flexible, tailored alternatives outside of traditional financing channels—an increasingly important tool for accelerating innovation in sectors undergoing rapid transformation,” said Gerónimo Gutiérrez, Managing Partner at BEEL.
VEMO has spent years building the capabilities required to operate a large-scale public charging network — from engineering, procurement, construction, operation and maintenance to site selection, multiple payment options, and online support through its Watts by VEMO app. Today, its network includes more than 1,200 connectors across 16 states in Mexico.
Moreover, its public charging network is benefiting from record utilization levels by global standards, leveraging the synergies of its self-generating demand coming from its various other business lines —VEMO Impulso, which offers the first lease-to-own EV product in Latin America in partnership with Uber and DiDi, and VEMO Conduce, one of the most intensive EV operations globally, in partnership with Uber.
“There’s no energy transition without infrastructure. This first-of-its-kind financing in the region allows us to continue scaling at full speed while building the most robust and reliable charging network in Mexico,” added Carlos Levy, Director of VEMO Charging Network. “What we’re building isn’t just a charging network— we’re enabling the entire ecosystem of clean mobility in the country.”
The financing will enable accelerated deployment of charging infrastructure in key locations. Access to reliable public charging is a decisive factor in driving user adoption of electric vehicles at scale.
This milestone builds on the strategic backing of large, international private equity investors such as Riverstone Holdings and Orion Infrastructure Partners (OIC), and follows recent local financings in VEMO Impulso, the company’s fintech arm, which has already financed over 4,000 vehicles for mobility platforms’ drivers to date.
About BEEL
Founded in Mexico City in 2018, Beel is a private credit manager focused on infrastructure and real assets across Mexico and Latin America. The firm currently manages over USD 600 million through three institutional funds backed by pension funds, insurance companies, and development finance institutions. Beel offers its investors privileged access to private debt opportunities with compelling risk-adjusted returns. The firm delivers customized financing solutions through agile and flexible structuring, tailored to each borrower’s needs while maintaining strict adherence to international investment and sustainability standards. For more information, visit: https://www.beelinfra.com/