€150k · Other round · Software · Lisbon, Portugal
Lisbon-based GalgoSheets has raised €150k from LX Launch to expand software that automates financial administration for Portuguese ride-hailing fleets. ECO reports that the previously bootstrapped company will use the investment to accelerate its current product, build services for drivers and add commercial staff.
Turning weekly settlements into a system
GalgoSheets focuses on the financial work that happens after a trip. Ride-hailing platforms transfer fare revenue to fleet operators, which then have to calculate each driver's payment after fuel, vehicle rental, tolls, commissions and other costs. The company's software synchronises Uber and Bolt billing with expenses such as fuel and Via Verde tolls, replacing spreadsheet-based reconciliation with a connected workflow.
That narrow workflow matters because it recurs every week and sits directly between revenue collection and driver payment. GalgoSheets told ECO that, for a 60-car fleet, its product cuts administrative time from three hours to 30 minutes and reduces losses from manual calculation errors by 16%. Those are company-reported results, but they show the product's commercial test clearly: fleet operators should be able to compare the subscription cost with time recovered and payment mistakes avoided.
The company said it manages more than 140 fleets and 3,000 drivers in Portugal, including Ubimov, Hábil Sintonia and Rotamutavel. It estimates that this represents 8% to 10% of the market and wants to reach 30%. Lanzadera's company profile dates the first customers and first hire to 2024, and says the business passed €70k in annual recurring revenue in 2025.
Expanding from software into financial distribution
The financing is intended to deepen the existing product before any international push. Founder and CEO Vasco Sampaio told ECO that GalgoSheets wants to serve drivers directly and hire two or three people across commercial, content, marketing and sales roles. International expansion remains an option, but the immediate priority is consolidating the Portuguese market.
A more consequential next step is credit intermediation. GalgoSheets plans to assess fleet risk and refer operators to finance providers. That could extend the company from recording weekly cash flows into distributing financial products, because the same operating data may help identify when a fleet can support vehicle or working-capital financing. The execution dependency is data quality: inaccurate integrations or cost records would weaken both payout calculations and any future credit assessment.
That path also changes what success looks like. Growth is not only the number of fleets signed, but whether GalgoSheets becomes the routine system through which operators close accounts, pay drivers and eventually access financing.
Sources checked:
ECO · GalgoSheets · Lanzadera · Tech.eu Funding Explorer
