LEAP Partners has made an undisclosed investment in Listo, based in San Jose, Calif.
The financial services firm provides affordable financial services and insurance to low-income Latinos in the U.S., half of whom are underbanked.
It received funding from Acumen last year. Listo is the first investment from LEAP Partners I, which is not explicitly impact-focused, but seeks to cultivate a Latin American venture capital and startup community.
“Only one percent of all venture capital-based companies is Latino-owned,” LEAP’s Roman Leal says. “Our hope is that our investment fund will serve as a catalyst” for connecting Latino entrepreneurs to capital.
It will focus on businesses based in the U.S. and Mexico.
LEAP also invested in PayStand, a business-to-business payments startup also based in California.