Fintech startup Jefa has raised a $2 million seed round to offer digital accounts specifically designed for women living in Latin America and the Caribbean.
Additionally to this investment round, the startup also signed an agreement with Visa. This is a strategic partnership agreement that will allow Jefa to leverage Visa’s products and resources to create their payment products and more.
The startup is still in the beta stage, but once Jefa launches, the fintech will allow users to open a digital account for free from a mobile app. Afterwards, users will receive a Visa debit card and will be able to use its savings feature and reward program. The company already has 115,000 women on its waitlist and will launch first in Mexico, then Colombia and Central America.
Some of the investors in Jefa include The Venture Collective, partners of DST Global, Foundation Capital, Amador Holdings, The Fund, FINCA Ventures, Rarebreed VC, Siesta Ventures, Springbank Collective, Bridge Partners, Hustle Fund, Foundation Capital, Latitud, J20 and Magma Partners, as well as several business angels.
Jefa wants to bring banking to women, who they believe have been neglected for too long. Even most of Latam neobanks are led by male and have been designed for male customers, which make some of their product decisions unfriendly to women.
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