Fondeadora raises US$1.5M to grow neobank services in Mexico

LatAm ListFondeadora started in 2011 as a crowdfunding platform for artists, creatives, and entrepreneurs. In 2015, they also created to raise funding for social causes as a certified B Corp. Fondeadora closed their crowdfunding platform after a partnership with Kickstarter and pivoted to become a 100% digital neobank.

The Fondeadora team recently announced via Medium that they had raised US$1.5M in a round led by IGNIA, a Mexican venture capital firm focused on companies that serve Mexico’s emerging middle class. They raised their round on a Mexican crowdfunding platform, Propeler, receiving investment from more than 156 angels.

Since launching their online banking product, Fondeadora has already served over 400,000 customers and has 15,000 people on a waiting list to receive their global Mastercards. Neobanks in Latin America have raised significant capital in the past year, including Mexico’s Albo, Brazil’s Nubank, and Argentina’s Ualá.

Read more about the round on Medium.

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