Startup News

Inter-American Development Bank invests $500K in Zolvers

LatAm ListZolvers, a digital hiring platform for cleaning, delivery, and maintenance services recently received $500K from the Inter-American Development Bank (IDB). This investment completes the $1M round that will be used to scale their product, ZolversPagos, and expand their marketplace.

“It’s an honor and a great responsibility to receive support from such a prestigious and rigorous organization as the IDB. It reassures us that we are on the right path and it provides us strength to keep growing,” said Cecilia Retegui, Zolvers’ CEO and founder.

Zolvers seeks to promote financial inclusion for Argentine domestic workers by providing quality employment opportunities.

“Domestic work is one of the most traditional and important jobs for a household or a society to function. Despite its economic and social importance, paid domestic work is one of the most unprotected and precarious occupations. The project will support the development of a fintech channel that will offer financial products that add greater value to Zolvers’ relationship with its domestic workers and the households they work with,” said Gyoung Joo Choe, IDB Lab’s Investment Officer.

Through ZolversPagos, domestic workers in Argentina can register their work relationship and receive their salary  through a simple and automatic process. The platform also helps the workers open a bank account and offers them a personal line of credit.

Read more in this press release from NXTP Labs.

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