Contxto – Our friend Finnovista is at it again!

This past week, the fintech mastermind announced its newest cohort for the upcoming Startupbootcamp Fintech event. Yet another batch of 10 promising Latin American fintechs will meander their way to Mexico City to participate in this world-class acceleration program. 

“We have opened a great path for innovation in the Latin American financial industry with help from Startupbootcamp FinTech programs and their corporate partners,” said Fermín Bueno, Co-Founder & Managing Partner of Finnovista, in a recent press release. 

“With this generation, we want to close a cycle with a flourish, and highlight the legacy that each of the alumni startups has achieved so far through its active collaboration with the ecosystem.” 

Gimme the deets

After an exhaustive application process, Finnovista invited some of the most promising and attractive Latin American fintechs to partake in the program, which will involve plenty of mentoring, networking and business development.

All of the chosen participants are early-stage ventures that succeeded in passing the recent Selection Days from September 17 to 19 where they were evaluated. 

From there, the 19 most promising ventures met with the Startupbootcamp Fintech team, as well as mentors and representatives from various corporate sponsors. These included Visa, Scotiabank, HSBC Mexico, Banregio, IGNIA, Latinia, Fiinlab powered by Gentera, EY Mexico, in addition to White & Case. 

By the end, the top-ranking 10 were meticulously selected. From across the region, these Latin American fintechs hail from Mexico, Costa Rica, Peru and Chile. Each of them also specializes in either payment, insurance, financial inclusion, fiscal education, as well as fraud prevention. 

Although program developers intended to invite fintechs from more nations, they’re confident that they’ve found a solid group this time around.

“At the beginning of the call, we were interested in reaching more countries, and knowing more and better startups,” said Rafael Hernández, Program Director of Startupbootcamp FinTech in Latin America. 

“Today, with a generation already, our focus is to overcome the metrics, advances, growth and collaboration possibilities of these 10 great projects.”

During the three-month program, participants can look forward to consolidating their business models and networking with industry experts. To further demonstrate the value proposition, most alumni have managed to secure 3.5 alliances with financial institutions as a result of the program. 

So, without any further ado, here are the lucky 10 that will be participating in the upcoming Startupbootcamp’s Finnovista Fintech accelerator. 

Alfi (Peru)

Like a handheld tutor, Alfi is a financial education application that adapts to users’ likes and preferences based on real-life scenarios. Over the program, aspiring business gurus learn topics ranging from inflation to interest rates.

The animated card game with relevant information to today’s globalized economy. First, you must decide if you’re going to play as a Conservative lion, Aggressive shark, or Moderate wolf, though.

Atrato Pago (Mexico) 

No collateral, no long line, no hassle. Atrato Pago’s financial PoS solution is all about providing fair interest rates to those with little credit history or means to verify their income.

Accessibility is high when it comes to annual interest rates between 1.7 and 5 percent, equivalent to an APR (annual rate) of between 19.2 and 60 percent. Quotes can also be generated in less than five minutes.

Contalink (Mexico) 

Nowadays, there’s a SaaS for every career path, including accounting. If you’re an accountant, which can be a complicated job in Mexico, then you could benefit from this software designed to help you reduce costs and generate new income sources. 

Functioning as a cloud-based accounting system, it’s a fast and efficient solution for everyday administrative tasks. Whether you’re a freelance accountant or office worker, it’s designed to serve more customers with less effort.

Flotify (Mexico) 

Those requiring fleet transportation insurance can protect their squadrons through Flotify. Simply upload fleet data to the system to receive a speedy quote. From there, partners can obtain insurance over the platform.

Common users include insurance agents selling fleets. Likewise, there are also SMEs needing a reliable method when it comes to safeguarding fleets. This way, they can deliver their goods or services to wider markets. 

Hubex (Costa Rica)

If your company wants to rid itself of banal or monotonous processes and replace them with efficient solutions, then look no further. Part of the solutions involves Hubex’s automated robotic process aiding partners in heightening profits.

Based on the website, Hubex processes over 2,000 transactions a month. Overall, the fintech has helped clients become more efficient by 65 percent. Industries that it serves range from banking, insurance, as well as consumer commerce. 

Inverkids (Mexico) 

Even kids and teenagers can benefit from holistic financial education thanks to Interkids! Considering that many children receive money as gifts, the fintech provides an opportunity to start learning how to intelligently handle finances at a young age. 

Adding more incentive is the fact that the majority of millennials have some form of debt lingering over their futures. Realizing that financial education shouldn’t be taken for granted, the company works closely with schools and colleges in Mexico.

Lisa Insurtech (Chile)

Leveraging AI and blockchain technology, Lisa Insurtech assists clients in automating and the processing of settlements and claim reimbursements. To accomplish this, it works closely with insurance companies.

According to Lisa Insurtech, the value chain within the insurance industry has been breaking down, quickly. Therefore, it is committed to working with traditional insurance brokers to improve their claims protocol.

Smart Beta Fix (Mexico)

Using CoDi technology, this fintech works with partners to accelerate their growth and competitiveness. Some of this involves strategic innovations that companies can integrate into their financial processes, especially when it comes to charges. 

Strategic design and agile technology are other factors behind Smart Beta Fix’s business model. 

Scorce (Mexico) 

All through the power of providing an email address, Scorce can perform rapid risk assessments of potential clients or users. Gathering and analyzing multiple factors, the fintech creates a score based on the “risk” associated with that particular e-mail. 

This may sound intense, but it’s an effective manner of preventing fraud and dispersing loans to trustworthy borrowers. Partners from the e-commerce realm can also sign up for a free trial with up to 100 free verifications. 

Valepay (Mexico)

“Who pays chooses” is the premise behind Valepay. No more banks and stores telling you what to do with your money. With this fintech, now workers can digitize their payroll vouchers for e-commerce shopping purposes. 

Once users have digitalized their employee information, they will have access to the Vale card. This way, they can switch payment methods between their credit and debit cards. Valepay also works with businesses to expand their points of sale.