(Impact Alpha) The Mexican and Chilean startups were selected by their peers for investments of $75,000 each as part of Village Capital’s latest Latin American fintech cohort.
Across Latin America, a majority of adults are unbanked or underbanked. Mutuo Financiera offers credit and other financial products to small businesses in Mexico, where 93% of small business applicants get rejected.
Fintual is a robo-advisor in Chile that helps individuals and small businesses improve financial literacy while investing their money. Users have invested $1 million through the service.
VilCap’s Latin American fintech program was backed by PayPal, Blackrock and Citibanamex.