FundraiseAug 10, 2026, 07:28 UTC

GalgoSheets raises €150K to fix ride-hailing fleet inefficiency in Portugal

What's the deal? Portuguese startup GalgoSheets has raised €150,000 in a pre-seed round led by LX Launch. Its software helps small ride-hailing fleets automate financial management, a segment the company says loses €47 million a year to inefficiency in Portugal.

How it works: The platform automatically syncs billing from Uber and Bolt with fleet costs like fuel and tolls. Work previously done by hand in Excel is now done in one click with help from artificial intelligence.

Why it matters: Portugal's ride-hailing sector is highly fragmented, with roughly 14,000 companies managing 35,000 vehicles — an average of 2.5 cars per firm. That lack of scale, GalgoSheets says, drives €47 million in annual losses across administrative costs, pricier fuel, cars bought without liquidity, and monthly-instalment insurance.

Founder and chief executive officer Vasco Sampaio, who previously built restaurant startup Pleez, said he spotted the opening after realising the sector is made up of "frotas que lutam para ser rentáveis" — fleets that struggle to be profitable.

The traction: GalgoSheets manages more than 140 fleets and over 3,000 drivers in Portugal, with clients including Ubimov, Hábil Sintonia, and Rotamutavel. It claims an 85% cut in time spent on admin tasks and a 16% drop in losses from manual calculation errors.

What's the endgame? The company, bootstrapped until now, wants to accelerate its current product and start serving TVDE drivers directly, not just fleets. The market remains volatile: of 10,000 fleets it contacted, 23.4% have already left the business.

The signal: At €150,000, the round sits near the smaller end of the funding spectrum, but it marks GalgoSheets' first external capital after a year of bootstrapping. It reflects growing investor interest in software that brings predictability to the fragmented, low-margin economies built around ride-hailing platforms.