The leading global acceleration program focused in FinTech picked the 10 startups that will make up its second generation in Latin America.
During the selection event, Startupbootcamp FinTech announced the recent addition of Latinia as its second investment partner.
Startupbootcamp FinTech, the leading global FinTech accelerator focused on innovation for the financial services industry, announces the 10 FinTech startups chosen to be part of its second program in Latin America, based in Mexico City.
The selection was the result of a three-month scouting process of the best FinTech talent throughout the region, and an intense evaluation over a three-day selection process named Selection Days. The 20 best FinTech startups in the region - selected from 311 applicants - attended the event, and more than 60 mentors.
In addition, the two Startupbootcamp FinTech programs in Latin America －Startupbootcamp FinTech and Startupbootcamp Scale－ announce the recent addition of Latinia - a financial notifications infrastructure software company - as a new investment partner.
The selection of the second generation of Startupbootcamp FinTech Mexico City, and the addition of Latina to its portfolio of corporate partners marks a new era for the initiative. Latina joins Visa, Fiinlab powered by Gentera, Banregio, HSBC México, EY Mexico, IGNIA and White & Case, as partners for the program.
The new cohort shows that we are reaching a new stage in FinTech in the region, in which the diversity of sub-sectors of the industry and the development of technological solutions as services or products for other organizations, are strong trends across the ecosystem.
The selected projects are from Chile, Costa Rica, Ecuador, Mexico, Peru and Uruguay, and specialize in the optimization of financial services for companies and users; from accounting, savings, loans by payroll, remittances, to neobanking solutions for financial institutions.
"We are proud to have met with so many startups during our applications process and watch the evolution of the ecosystem in Latin America. Payment and credit solutions remain in the majority, but we can tell that there is a great leap towards solutions that increase the competitiveness of the industry: an approach that undoubtedly impacts the economic development of the region," says Eduardo Morelos, Program Director of Startupbootcamp FinTech Mexico City.
The ten selected startups for the second cohort are:
DevBlocks (Mexico): Automatic pilot of accounts receivable and payable.
FinTech Latin America (Costa Rica): Neobanking solution for financial institutions.
Hurra (Mexico): Digital credit platform with discount by payroll.
Luz Verde (Ecuador): Company dedicated to the generation of consumer portfolio for the retail sector. It works through a technological platform focused on the optimization of the integral process.
Plataforma Latam (Chile): The platform uses cryptocurrency to send cash through Latin America for the unbanked.
Qualia (Uruguay): Through its Prometeo solution, they provide a standardized API to communicate with financial institutions.
Seif (Mexico): Web platform with which, through smart contracts allows to program the way in which funds and payments of a transaction will be used.
Sin Conta (Mexico): Digital tool to modernize the accounting processes of other companies, through a semiautomatization process.
Tasa Top (Peru): First savings marketplace in Latin America. Through Tasa Top people and companies are connected with financial institutions through auctions and differentiated products.
Tu Identidad (Mexico): Provider of integral solutions that drive companies from any sector to manage the risk associated with the people with whom they do business.
Startupbootcamp FinTech will boost these startups for three months through its program that will start on August 20th. The teams will be located in Finnovista LOFT, the FinTech collaboration center in the heart of Mexico City and will receive USD 16,500 in cash for living expenses.
At the end of the program, the teams will present their projects to more than 400 investors and industry experts to raise capital and grow their businesses at Demo Day, the program ending event that will take place in November.
After graduating, startups will continue to be supported by the Startupbootcamp Global Alumni growth program.