Ten Startups Focused on Economic Mobility Selected for Village Capital’s Backing LatAm’s Middle Class

Mexico City, Mexico (August 9, 2022) – Village Capital, with support from Moody’s, announced that ten startups were selected to be part of Backing LatAm’s Middle Class. An accelerator focused on improving economic mobility and creating pathways to the middle class.

The open call had a focus on supporting startups helping people move from the informal sector and into the middle class, or helping people in the middle class thrive. More than 100 startups from 15 countries in Latin America and the Caribbean applied to be part of the accelerator, including: Costa Rica, Peru and Uruguay. 49% of the application pool has at least one female founder and 35% of the total pool focus on financing, followed by 27% in education and professional opportunities.

The ten top companies from six different countries composed the final cohort, 80% have a female founder or C-suite member. These companies are supporting technologies, products, and services that help improve education and skill building opportunities, further access to formal financial services, insurances, and employee benefits, and increase financial health alternatives for unexpected expenses, savings and economic mobility.

Here are the ten selected startups:

• Alfi (Mexico City, Mexico) elevates financial health through a gamified and free platform and app.
• Appaguitos (Mexico City, Mexico) offers products and services purchasing alternatives using savings instead of credit.
• Hola Paco (Mexico City, Mexico) is a credit-building solution for new credit users. It sets them up for success by building a payment habit and history without relying on the financial debt.
• Lukount (Medellin, Colombia) helps small businesses and small accounting firms to automate processes and make data-driven decisions with an end-to-end accounting platform. 
• Milusos (Mexico City, Mexico) is a frictionless platform that connects vocational workers and clients, as well as a marketplace for financial products and services.
• Open MEI (Curitiba, Brazil) allows enterprises to hire Individual Micro-Entrepreneurs (MEIs) and give them benefits such as retirement, health insurance, and paid time off. 
• tuGerente (Santa Cruz de la Sierra, Bolivia) is a financial data centralizer for SMEs that have difficulties keeping track of their finances and inventory. Its users can use their information to make decisions and document their economic activities.
• Uffa (São Paulo, Brazil) is a platform for individuals and businesses that helps them settle debt and connects them to a financial product marketplace.
• Uils (Buenos Aires, Argentina) provides loans for mobility gig workers. They suggest customized financial products, such as payment advances, top-ups, consumer, and car loans through a scoring system that analyzes their driving history.
• Üin (Santiago, Chile) offers savings and investment products as employee benefits and invests those resources in social and environmental causes.

From August through October 2022, the selected entrepreneurs will meet for three online workshops and one workshop in person. The curriculum is focused on helping them develop the networks and tools they need to scale their impact. They will work closely with industry experts, investors, and ecosystem partners in three online workshops and one workshop in person; where one founder/C-suite member of each selected startup will travel with all expenses included to Mexico City to interact with one of the biggest ecosystems of the region.

For more information, reach out to Sofía Cándano at Village Capital (sofia.candano@vilcap.com)

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 110 program graduates.

About Moody's

Moody’s (NYSE: MCO) is a global integrated risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions and insights help decision-makers identify opportunities and manage the risks of doing business with others. We believe that greater transparency, more informed decisions, and fair access to information open the door to shared progress. With approximately 14,000 employees in more than 40 countries, Moody’s combines international presence with local expertise and over a century of experience in financial markets. Learn more at moodys.com/about.

Moody’s builds toward a world where more people have access to opportunity, and where everyone has what they need to grow and thrive. We are committed to opening the door to brighter futures through our global corporate social responsibility programs connecting people around the world with the knowledge and resources they need to succeed. For more information visit moodys.com/csr.