Grupago, a Mexico City, Mexico-based fintech startup providing a digital microcredit for small businesses (SMBs) in Latin America, raised $4.3M in Seed funding.
The round was led by Deciens Capital and joined by Precursor Ventures, Clocktower Ventures and Twine Ventures, among other venture funds. They were also joined by a number of angels across the United States and Mexico, including Zac Bookman (CEO, OpenGov), Oso Trava (Cracks Fund), Pepe Shabot (CEO, ION Mexico) and Paul Sawaya (co-founder, Human Interest).
The company intends to use the funds to expand operations and development efforts.
Led by Founder and CEO Uri Pomerantz, Grupago provides a digital microcredit platform for small and mid-sized businesses (SMBs) in Latin America, leveraging artificial intelligence, group collateral and community distribution to extend credit to micro-SMBs across the region who have been shut out of traditional SMB lending avenues.
Grupago is currently active in Mexico and seeks to scale across Latin America over time. Its first focus is on a group loan product focused on women entrepreneurs.
FinSMEs
12/03/2024