Mexico City (November 17th, 2021) — Village Capital, in collaboration with MetLife Foundation in Brazil and Mexico and Moody’s, today announced that Akiba, HiSofi, and ConyaAyuda were peer-selected to receive equity-free grants as a part of the program Finance Forward Latin America 2021. This is the third iteration of the investment-readiness program for early-stage financial health startups in the region.
“Financial health is a powerful force for economic stability and mobility in Latin America,” said Daniel Cossío, Regional Director for Village Capital Latin America. “The creativity and disruptive force that these entrepreneurs hold, along with the profound empathy that they feel for their communities, make out of this sector an unstoppable tool for our region. The pandemic, the economic crisis, and the sub-banked population start to visualize technological alternatives for a regional economic recovery.”
“This cohort delivers affordable and convenient financial services through technology and innovation,” said Nalleli Garcia, Sustainability and CSR Director. “MetLife Foundation is enthusiastic about this year’s Finance Forward Latin America alumni startups, and we believe they will help usher in a new generation of financial solutions to build a confident future for all.”
“Moody’s believes in the power of knowledge to empower small and growing businesses. These startups are delivering,” said Marina Rosemberg, Country Manager Argentina for Moody’s. “With the resources and Village Capital’s Finance Forward curriculum, they are now more prepared to drive a positive change for long-term solutions for their communities.”
On the final day of the three-month virtual accelerator program, the 12 participant startups evaluated each other through an investor lens, using eight specific investment criteria that leverage Village Capital’s investment-readiness levels.
Akiba was ranked by their peers as the “most investment ready” and will receive a $40K USD equity-free grant from MetLife Foundation. Meanwhile, a MetLife and Village Capital committee carefully analyzed the startups and selected HiSofi and ContaAyuda to receive a $30K USD equity-free grant each from MetLife Foundation. These startups focus on the following:
More than 90 entrepreneurs from 11 countries in Latin America applied to be a part of the accelerator, including: Brazil, Ecuador, Guatemala, Mexico, Peru, and Uruguay. The top 12 companies were selected to be part of the cohort. All 12 of them are creating solutions around payroll financing, SMBs management, and P2P lending, among others, and 50% of them are working from outside major fintech hubs.
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 businesses create 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 nine early-stage Latin American companies like ePesos (2016), Fintual (2017), and Huli (2017).
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. MetLife Foundation was established in 1976 to continue MetLife’s long tradition of corporate contributions and community involvement. From its founding through the end of 2020, MetLife Foundation provided more than $900 million in grants and $87 million in program-related investments to make a positive impact in the communities where MetLife operates. Our financial health work has reached more than 17.2 million low- and moderate-income individuals in 42 countries. To learn more about MetLife Foundation, visit metlife.org.
About Moody’s
Moody’s (NYSE: MCO) is a global 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 over 13,000 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.
