INFOGRAPHIC: LatAm's Top Weekly Startup Funding — Week 32
These are the funding deals we tracked in the LatAm region this week including Aviva, Stori, and Crediko.
- Aviva Secures $5.5 Million to Expand Financial Reach in Mexico
- Mexican Fintech Stori Secures $212M to Boost Financial Inclusion
- Edtech Startup Crediko Secures $2.5M in Seed Funding Led by Graven Group
Aviva Secures $5.5 Million to Expand Financial Reach in Mexico
Aviva, a pioneering fintech company combining physical and digital platforms to deliver financial services, has raised $5.5 million in an oversubscribed funding round.
The investment was led by Credicorp’s VC arm Krealo, with participation from Ignia Partners, Carao Ventures, Rainforest Capital, DCG, Wollef, Newtopia, 500 Global, and Magna.
Founded in September 2022, Aviva is on a mission to bridge the financial gap for 70 million Mexicans living in underserved areas. By blending both physical and digital elements, known as "phygital," the platform makes it easy for people to apply for loans through a fully conversational process that uses advanced technologies like natural language processing and computer vision. Customers can visit Aviva’s kiosks and, after a quick seven-minute video call with an AI-powered bot, get real-time loan approvals.
This process is designed to be user-friendly, even for those with little digital experience, making financial services more accessible and inclusive. Aviva’s unique approach has already garnered significant traction. With over 50,000 customers served and a presence in 26 cities, the company is poised to become a leading player in the Mexican financial landscape.
The newly acquired capital will fuel Aviva’s expansion plans, enabling it to increase its network of physical kiosks across Mexico. Additionally, the company will invest in technology enhancements to further refine its customer experience and introduce new financial products tailored to the needs of its target market.
