Suyo, a Medellin, Colombia-based startup enabling low-income families in Latin America to secure their homes and land, raised an additional investment from Omidyar Network.
The amount of the deal, which also involves three other investors, was not disclosed.
The company intends to use the funds to expand its reach with a goal of benefiting more than 500,000 people by 2021.
Led by Matthew Alexander, co-founder and CEO, Suyo leverages mobile and geospatial technologies, microfinance, and community organization partnerships to automate the legal and technical analysis for property formalization.
Since launching in 2015, the company has sold formalization services to approximately 1,100 families across several municipalities in Colombia, including Bogotá, Cali, Medellín, and Barranquilla.
FinSMEs
22/04/2017