LatAm List – The Swiss fintech company, KiWi, raised $2.8M Euros (US$3.16M) in a Series A round investment to accelerate its growth in Mexico and Latin America. The round was led by Swiss venture capital funds Investiere and Polytech Ventures, along with Swiss impact funds Symbiotics and 1to4 Foundation.
“By combining payments and microcredit, KiWi is one of the most promising initiatives for microfinance,” said Vincent Dufresne, CRO and co founder of Symbiotics.
Since 2015, KiWi has been offering microfinance solutions in Mexico to small businesses, which make up 90% of Mexican companies. With KiWi’s app, more than 20,000 entrepreneurs are able to accept electronic payments from their customers directly from their mobile phones without having to buy payment terminals or cash registers. Entrepreneurs can also easily apply for a microcredit through the app, whereas in traditional banks accessing a loan would be impossible.
With this investment round and a strong group of directors, KiWi looks to position the Swiss fintech scene at the forefront of financial inclusion.
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