Mexican startups are sought to solve financial health problems

June
11, 2021

3 min read

Village Capital, with the support of the MetLife Foundation in Brazil and Mexico, and Moody’s, announced the new call for Finance Forward Latin America 2021. For the first time, this acceleration program will support startups that build technology solutions around the future of work.

Between 10 and 12 startups will be selected to participate in the virtual workshops that will begin in August, with a focus on technology that helps independent, informal and essential workers reduce the volatility of their income, develop professional skills, and access benefits and cash, in case of emergency.

In previous years, Mexican startups such as Billpocket, Vexi, Aplazo and ePesos have been part of Village Capital Latin America’s financial health acceleration programs. Entrepreneurs like them provide valuable innovation that allows more and more Mexicans to have access to financial services previously reserved for only a segment of the population.

“In 2020, Mexico’s economy contracted 8.5% , the steepest drop in the last 90 years, ” said Daniel Cossío, Regional Lead for Village Capital Latin America. “As a result, the economic challenges faced by millions of individuals and small businesses have increased. Fortunately, there is a growing list of startups that are trying to improve the financial health of individuals and small businesses, helping them manage their income, make the transition to the formal economy and plan for the future. I am excited to work with these startups through this accelerator ”.

“The MetLife Foundation is committed to building the confidence that people need to be able to pursue their personal and professional ambitions,” said Nalleli Garcia, MetLife Foundation. “We are proud to support Finance Forward Latin America this year, as it will help a new generation of financial solutions for the modern worker.”

“At Moody’s, we are committed to empowering growing small businesses through knowledge,” said Marina Rosemberg, AMD Head and Relationship Management at Moody’s. “We believe that the training offered at Finance Forward Latin America 2021, along with resources and confidence, will empower entrepreneurs to create a better future, both for themselves and for their communities.”

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From August to November, the selected startups will participate in virtual workshops to strengthen their preparation to receive investment. Each company will have the opportunity to work closely with industry experts, investors, and ecosystem partners to develop the relationships they need to scale their impact.

All startups that apply to the program will be invited to join Abaca, Village Capital’s global online network that helps entrepreneurs become self-aware of their businesses and recognize whether they are ready to receive investment (in applicable cases) or for their next expansion. . The network also connects them to the right investors and resources.

The call closes on June 18, 2021. All details about the program’s eligibility can be found at this link.

For more information, contact Sofía Cándano at Village Capital.