10 LATAM startups to receive USD$50,000 from Credicorp Group
Grupo Credicorp, which is a leading financial holding company in Latin America, through its corporate capital initiative Krealo, unveiled the 10 selected startups that will receive an investment of USD$50,000 each.
This is part of the ‘Future of Financial Services’ accelerator program, which is conducted in collaboration with BCP’s InnovaCXion Center and Seedstars.
The startups benefiting from this program are from different locations in Peru, Colombia, and Chile, demonstrating significant potential to transform financial services using innovative technologies.
The purpose of this program is to identify and support the most promising startups operating or intending to operate in this region.
In addition to receiving guidance from international leaders and participating in executive sessions with experts from BCP’s InnovaCXion Center, these startups are eligible for the mentioned initial investment, with the possibility of receiving an additional USD$150,000 upon program completion.
“Witnessing the innovation and potential of these new companies has been impressive. These companies are not only creating disruptive technologies, but they are laying the foundation for a more inclusive and technological financial future for the region,” emphasized Francesca Raffo, Corporate Innovation Manager of Credicorp.
The program received applications from startups from more than 13 countries, and 10 winners were selected, which are as follows:
–Depay (Argentina): A platform for cryptographic payments connecting various wallets to facilitate seamless transactions between users.
–uils (Argentina): They develop integrated financial solutions to enhance financial inclusion for mobility workers, using their driving history as credit criteria.
PasanaQ (Bolivia): Digitizes traditional common savings and credit associations in Latin America, providing financial inclusion as well as additional services: insurance and loans.
Relif (Chile): Offers a financial health platform that collaborates with companies to improve workers’ debt conditions, using Open Data and AI.
Escarlata (Colombia): Focuses on providing alternative financing solutions for SMEs in Latin America, with specific platforms for the construction and technology sectors.
Kuadra (Colombia): Targeting SMEs still using manual methods, it offers an intelligent business operating system with real-time analytics and a unique credit card system tailored to business performance.
Agéndalo (Peru): Improves the conversion rate of service sales for small businesses in Latin America, with an availability algorithm and automated messaging via WhatsApp.
Exelan S.A.C (Peru): Facilitates the exchange of tokenized financial assets between applications through self-executing contracts on blockchain networks.
Kambia (Peru): Uses AI to provide customized loans to underserved businesses, with the possibility of repayment in daily installments.
FORTS (Uruguay): Developed by Alphalabs, it’s an AI-driven forecasting platform that addresses business issues, such as demand forecasting in retail and detecting financial frauds.