Dealflow | May 5, 2021

Mexico’s Graviti raises $2.5 million to help unbanked Latin Americans pay for appliances

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, May 5Graviti, a Mexico City-based “buy now, pay later” company, launched in 2019 to help low-income and unbanked families in Latin America purchase sustainable appliances. Families that cannot afford to pay upfront “have no access to loans because they are unbanked,” Graviti’s Yusef Jacobs told Crunchbase.

The company has secured $2.5 million in a seed investment round led by San Antonio-based Active Capital. Other investors in the round include Mucker Capital, Clocktower Technology Ventures and angel investors. Catalyst Fund, the global inclusive fintech accelerator, backed the company last year (see,Catalyst Fund announces new inclusive fintech cohort”).

The financing will help Graviti offer a new product every two months, including washing machines, dryers, solar heaters and refrigerators. Graviti offers loans without credit checks or initial payments, and doesn’t charge interest on late payments.