Startupbootcamp Scale FinTech Mexico City, the first innovation program for growth stage startups in Latin America, announces the five FinTech startups chosen to be part of its first program, based in Mexico City. The program is run in partnership between Startupbootcamp FinTech and Finnovista, the leading champion of FinTech innovation in Latin America.
The cohort was selected from nearly 100 FinTech growth stage startups who applied to the program: that included projects from 17 countries in America, Europe, Asia and Africa, with a special interest in growing their businesses into the Mexican and Latin American markets.
The startups were chosen following two-day ‘Selection Days’ process, that brought together more than 40 mentors from across the Startupbootcamp network, the nine startups that had been picked for final selection, and representatives from the program’s corporate partners, including Visa, Fiinlab powered by Gentera, BanRegio, HSBC Mexico, IGNIA, EY Mexico and White & Case.
The chosen startups are from Mexico, Spain and Chile, and focus on solutions for specific groups within financial services such as SMEs, freelancers and students, while others offer payments and billing efficiency tools.
“FinTech in Mexico and Latin America continues to grow exponentially, and the results of our scouting and call up efforts for the Scale program are proof of that. We found more than 100 startups that had a scaleup profile with a special interest in the region, a validated model and are ready to conquer Latin American. Today, we are delighted to have chosen our top five companies to work with hand-in-hand on behalf of financial innovation in Latin America,” said Christine Chang, Program Director, Startupbootcamp Scale FinTech Mexico City.
The five selected startups are:
Billin (Spain): A free invoicing platform for SMEs and freelancers, to help them create, send, track and get their invoices paid by their clients, as well as upload pictures of their expenses and invoices received by their suppliers.
Expediente Azul (Mexico): A tool designed for financial and insurance institutions to easily capture, receive, and analyze the many documents sent by a particular customer and manages the complex communications process until success.
Facturedo (Chile): Working capital financing marketplace where SMEs seamlessly request advance payment of their electronic invoices, helping them obtain working capital financing, no matter how small the company or the financing needs.
Quotanda (Mexico): Loan as a service platform or LaaS (Lending as a Service) that provides loan management services allowing schools and lenders to establish student financing programs.
Startupbootcamp Scale FinTech will boost these startups for six months through its a semi-residential program that will begin on April 16th. The teams will travel to Mexico City every four weeks for workshops between mentors, corporate partners and the Startupbootcamp team.