December 7, 2017 | Dealflow

In Latin America, VilCap backs fintech startups Mutuo Financiera and Fintual

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ImpactAlpha

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.

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