- The deal is the latest in a series of funding rounds for Latin American alternative finance companies.
- Emerging market fintech investor Quona Capital led the Series B funding round.
- Ascension Ventures led the firm's funding round via its Fair by Design social impact fund, whose mandate is to invest in companies remedying the “poverty premium” that poor people often pay to access basic goods and services.
- Mumbai-based education finance company Eduvanz's mission is to make skills and workforce training more accessible to India’s youth.
- Hernán Fernández founded Angel Ventures as one of Mexico’s first angel networks a decade ago while completing his MBA at MIT. Now comprising 400 angel investors, the firm has invested in 21 companies from its first, $20 million venture fund and is raising and deploying a second fund.
Branch, which enables mobile lending, has now secured $170 million from Visa, Foundation Capital, B Capital, Andreessen Horowitz, Formation 8 and Trinity Ventures.
- Fintech startup Weel provides cashflow loans to Brazil’s small businesses to help them weather variability between incoming and outgoing payments.