Village Capital announced the companies in which the Financial Health Innovation Fund will invest. The Financial Health Innovation Fund is an early-stage investment vehicle funded by the MetLife Foundation. The companies are two startups focused on promoting financial health: Finerio Connect and Chari.
Finerio Connect is a Mexican startup that leverages open banking and personal finance APIs to help financial institutions process data into useful insights. Chari is a startup from Morocco that digitizes the procurement process for small shops and creates greater access to financial products for underbanked Moroccans.
The President of MetLife Foundation, Tia Hodges, expressed the following: “Chari and Finerio Connect are exciting examples of how innovative financial solutions can empower vulnerable people and businesses to become more resilient and prepared for the future.”
The Financial Health Innovation Fund is part of Village Capital’s Family of Funds. Announced in 2020, this is a series of funds and impact investing activities focused on investing in early-stage, impact-driven startups. The investments are made through different mechanisms such as revenue share and convertible debt.
The co-founder of Finerio Connect, Nick Grassi, shared the following: “We are developing the financial infrastructure and laying the foundation for financial health products in Latin America through our open banking tools and personal financial management APIs.”
-Village Capital and MetLife Foundation.
About Village Capital
Village Capital helps entrepreneurs bring big ideas from vision to scale. Our mission is to reinvent the system to back the entrepreneurs of the future. Our vision is a future where business creates equity and long-term prosperity. Since 2009, we have supported more than 1,000 early-stage entrepreneurs through our investment readiness programs. Our affiliated fund, VilCap Investments, has invested in more than 100 program graduates, including 8 early-stage US fintech companies like Vault, Fig Loans, and Finix.
About MetLife Foundation
At MetLife Foundation, we are committed to expanding opportunities for low- and moderate-income people around the world. We partner with nonprofit organizations and social enterprises to create financial health solutions and build stronger communities, while engaging MetLife employee volunteers to help drive impact. Our financial health work has reached more than 17.3 million low- and moderate-income individuals in 42 countries. Learn more at MetLife Foundation.