Yepes, Aceves and Diaz de Moffin on their $2.1 million seed round led by Accion Venture Lab

In addition, they share views on data security and corporate culture.
Moffin Founders

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Moffin, a software and data integration company in Mexico, has announced a $2.1 million seed round led by Accion Venture Lab and Chile Ventures. Fondation Botnar, New Ventures Capital, Rally Cap Ventures, Digital Currency Group, Carabela and AngelHub also participated in the round.

Amee Parbhoo - Accion

“At Accion Venture Lab, we have seen firsthand how difficult it can be for financial institutions to understand and serve small businesses and underserved communities. Information about these customers is sparse and disaggregated, preventing them from accessing key financial products, such as loans.

Moffin’s data integration platform can help financial institutions increasingly adopt data-driven decision-making processes, allowing them to access and use external data seamlessly.

We foresee a future where Moffin will be a critical infrastructure layer for financial services companies in Mexico, enabling them to better design products for their customers.”

Amee Parbhoo, Managing Partner of Accion Venture Lab, for her inclusion in today’s news about Moffin’s funding round.

Founded by Santiago Aceves, Victor Agustin Diaz Mendez and Nicholas Andres Yepes, Moffin seeks to facilitate access to data, enabling companies of all sizes to build trust without the need for costly internal systems.

Nicholas Andres Yepes, COO and co-founder of Moffin, commented, “The support of our investors allows us to accelerate our roadmap to develop tools that improve data usability across multiple industries.”

Moffin’s platform has processed more than one million assessments for more than 70 companies in Mexico, offering applications from credit evaluations to employment background checks. Moffin’s clients have improved their operational capacity, reduced the time to introduce new assessment products and saved on engineering costs.

Amee Parbhoo, Managing Partner of Accion Venture Lab, noted, “As companies increasingly embrace data-driven decision making, Moffin is becoming an infrastructure layer in their operations. Its data integration platform is a tool for outsourcing non-core tasks, such as maintaining connections with external vendors and automating information requests.”

Marcelo Camus, General Partner at Chile Ventures, added: “Moffin represents the combination of a founding team with an idea to address an important problem. The proposal of a platform that simplifies the integration of information sources to assess client risk profiles struck us as an innovative approach to this challenge, especially in Latin America.”

Moffin plans to use this investment to enhance the capabilities of its platform, particularly in automating monitoring, compliance, data analytics and regulatory tasks.

The company reached profitability in August 2023 and aims to triple its revenue each year. With this new round of funding, the founders retain approximately 70% ownership of the company, including the ESOP.

In terms of data security, Moffin implements software development practices and is in the process of obtaining ISO 27001 certification. The company uses SCRUM and LEAN in its development process, with 15-day sprints and daily meetings to identify potential risks.

As Moffin grows, it plans to sustain its development by encouraging customer feedback and hiring employees. The company is currently seeking talent in engineering, growth, data science, software sales and customer success.

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