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Mexican edtech company Vinco announced its latest funding round of $2.4 million led by Angel Ventures. With this new funding, the Monterrey-based company aims to grow in Mexico and venture into certain LatAm countries.
The startup had already made news a few weeks ago with the announcement of its partnership with Chinese delivery and ride-sharing company DiDi, as well as its participation in Y Combinator’s acceleration program.
About the recent investment received by Angel Ventures, Hernán Fernandez, Managing Parter of this VC firm, mentioned the following: “We are happy to be part of the story of Vinco’s three great entrepreneurs… their value proposition is being very well received, and more and better names are using it.”
Other investors that are also backing this company are funds like Alter Global and Reach Capital, as well as female investors like Claire Díaz-Ortiz, Beth Axelrod, and Holly Liu.
A win-win business model
Vinco is an edtech company that provides continuing education programs for workers. Its business model is based on a win-win vision: besides improving workers’ professional growth, it also serves as a retention tool for companies –especially those with high personnel turnover.
Lissy Giacomán, Sofía Sada and Miriam Fernández are Vinco’s founders. The project emerged after the pandemic’s effects on Mexico’s job force. By using tech tools, Vinco tries to offer a solution to both the country’s education gap and companies’ struggles with retaining their workers with the right incentives.
Vinco mainly operates in Mexico, although it has some presence in Colombia and Spain. The company expects to venture into other countries in Latin America soon.