In a story originally reported by ImpactAlpha and brought to our attention by LAVCA, venture capital fund Village Capital has made two US$75K investments, providing support to Mutuo Financiera from Mexico, and Fintual from Chile. These two startups will join Village Capital’s fintech program after being selected by their peers to participate.
Mutuo Financiera offers credit and other financial products to small businesses in Mexico, where access to small loans for businesses is extremely limited. Since it was founded, Mutuo Financiera has provided 192 loans and has reached their mid-year goal of processing US$1.5M in credit.
Fintual is a Chilean robo-advisor that teaches financial literacy while helping people invest their money. The service is for savvy internet users that do not necessarily want to research finances but are looking for a better investment than a simple savings account.
Entrepreneur report on Mutuo Financiera
CNN Chile report on Fintual