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Contxto – The Catalyst Fund hosts an accelerator program for startups that develop solutions for a more financially inclusive world. Previously, it had only operated in Kenya, South Africa, Nigeria and India. But it’s recently made it’s debut in Latin America.
This month the initative was officially launched in Mexico. As a result, for the next three years, fintechs from that country now have a chance to scale the positive impact of their products through the program.
And according to Eduardo Ortiz, the Catalyst Fund’s Country Manager in Mexico, the ecosystem is at a great starting point.
“As we’ve begun our work in Mexico, we’re thrilled to see such a tight community with so much interest in developing tech solutions that improve the financial well being of those that have been largely ignored by the financial system,” stated Ortiz in a blog post.
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Catalyst is on a mission to include the most marginalized
The high levels of unbanked populations in Latin America is so often mentioned by fintechs and media alike (guilty), it’s almost a cliché.
But ironically enough, the most marginalized of populations are still unattended. I’m not talking about the millennial who has no credit history, or the small business owner in Mexico City. Their needs are important, certainly. But there’s also the country’s indigenous population, domestic workers, farmers in pueblitos, to name a few.
In recent years, the number of fintechs and investments in Mexico have increased. So it does have the potential to allow for a more even distribution of fintech benefits. It just needs to “accelerate” in that direction. To that end, the Catalyst Fund may prove an important ally.
Related articles: Tech and startups from Mexico!