LatAm List – Endeavor Chile, a government organization focused on promoting entrepreneurship in the country, recently announced a new accelerator program “Endeavor Scale Fintech”. Out of 20 fintechs drafted to the final round of selection, five Chilean fintechs were chosen to participate in a Demo Day: Jooycar, Pago Fácil, Migrante, Colektia, and Mejores Condiciones.
The accelerator program is designed specifically to support the growth of local fintechs and to promote the relationship between startups and financial companies in Chile.
Endeavor Chile aims to facilitate relationships between emerging startups and large companies already in the sector. The selected companies will have privileged access to companies such as Consorcio, Banco BCI, SoftBank, and Ripley.
“We didn’t have high expectations for the fintechs as we know that this is a new industry in Latin America. We were looking for companies that already had a product made and were starting to sell in the market. We ended up receiving 40 startups that already had products and services in the market,” said José Manuel Correa, General Director of Endeavor Chile.
Jooycar, an insurance technology company, has recently launched operations outside of Chile and is looking to expand into North America towards the end of 2020. The accelerator program will be fundamental in building the company’s network and securing future funding.
“We are coming to an inflection point this year because we opened operations outside of Chile at the end of 2019,” commented Rodrigo Labbé, CEO of Jooycar.
Read more on Diario Finaciero.