FinTech news in Mexico category

Merlos and Estrada say the company’s homegrown credit scoring system allows it to offer credit cards in tiers so that its lending is responsible.

Unlike other fintechs that are concentrating on large, urban areas, Aviva is concentrating on smaller communities where the company can address the lack of trust in banks, predatory interest rates and help users who may not have the technical ability, like a smartphone, to purchase financial products directly. With that new capital, Aviva is going to invest in building out its credit and underwriting system, preparing to launch the company’s own credit card and expanding its kiosks. He met his co-founders David Hernandez and Amran Frey at Konfio, and, along with Israel Garcia, started Aviva, a Mexico-based fintech startup focused on bringing working capital to unserved communities. Aviva’s approach uses artificial intelligence and natural language processing to match customers’ spoken word to the fields of a real-time credit application.

Digital payments are gaining momentum in Latin America, and startups like Mexico-based mattilda are putting their spin on streamlining financial and administrative processes for private schools while also offering credit backed by future school fees. Here’s where mattilda comes in: the company provides a SaaS tool that enables parents to get a personalized payment link via email or WhatsApp and can then make tuition payments in a number of ways, including debit cards, credit cards, bank transfers and flexible credit lines, in seconds. So far, mattilda is working with 17 schools accounting for some 9,000 students, which Agote said will become 24 schools and close to 14,000 students as of November 1. In Latin America, many of the payments are month to month, and if payment is not made, the school is the one to spend time contacting parents to collect that payment.

Mudafy, a tech-enabled real estate broker operating in Latin America, has raised $10 million in a Series A round of funding led by San Francisco-based Founders Fund.

BAI Capital, GIC and GGV Capital co-led the equity portion of the deal, which also included participation from other existing and new investors.

Nowports, an automated digital freight forwarder in Latin America, has raised $150 million in a Series C funding round which values the company at $1.1 billion.

The company raised $230 million in an equity and debt Series A round last year, led by Kaszek, and since then expanded into Mexico, growing its client roster over five times to 15,000, growing Mexico revenue by 60 times and launching its new Xepelin Payments product 90 days ago that enables users to organize and automate payments to suppliers, with and without financing.

Its API technology can approve businesses for the BNPL in seconds so they can begin offering the installments.

Mundi, a financial services platform for cross-border trade, announced today it has raised $16 million in a Series A funding round led by Union Square Ventures.

Alejandro Echavarria and Leon Papu, both managing partners, co-founded the venture capital firm in 2020 with Pablo Navarro, operating partner, to focus on early-stage, business-to-business startups in emerging markets. They started Marathon initially as a company builder in 2020, which is how they ended up investing in Tul, ​​a B2B e-commerce marketplace that optimizes the construction-material supply chain for hardware stores across Latin America. Brazil and Mexico are most known as Latin America hot startup ecosystems, but other countries, like Colombia, are gaining visibility and interest from investors. In addition to Tul, the fund has invested in eight companies and is already seeing an approximate two-time return over the total fund size to date.

Melonn, a Colombian startup that provides fulfillment and software services to small and medium-sized e-commerce companies in Latin America, has raised $20 million in a Series A round led by QED Investors.

Parrot is the latest company raising capital as part of a broader trend of companies helping restaurants thrive in this new digital world, including Zak, also developing point-of-sale technology for restaurants, payment system Sunday and restaurant management software company MarginEdge

But Bankaya, a Mexico City-based financial services startup, is attributing its early traction on the opposite model — going after target customers in person.