The renowned Colombian crowdfunding platform Vaki has announced its entry into the Mexican market to revolutionize and expand the donation sector in the country.

Vaki’s arrival comes at an opportune time, amid a 40% increase in the creation of crowdfunding platforms in recent years, compared to 2022, according to the Association of Collective Funding Platforms (AFICO).

Vaki has been a driving force in fundraising, accumulating more than USD $11 million from around 500,000 people. MassChallenge and the CEO of ParqueTec Mexico, Ron Oliver, backed the company’s move to Mexico.

The platform has already made its mark in Mexico with its “Red Independiente” campaign, which became Latin America’s most prominent crowdfunding donation campaign, raising USD $1.1 million with the support of 23,651 “vakers”, according to the company itself.

Vaki’s CEO, Nicolás Contreras, expressed his firm belief in the ability of citizen unity to solve problems without relying on governments or corporate donations. With this approach, Vaki seeks to amplify and reward citizens’ commitment to social impact projects in Mexico.

The platform joins the growing trend of digitization and the creation of online platforms, which has taken crowdfunding to new heights in recent years.

Opportunity for Mexican Startups and Investment Funds Vaki’s entry into the Mexican market represents a significant opportunity for startups and investment funds in the country. The 40% increase in the creation of crowdfunding platforms signals an upward trend and an expanding market. Vaki’s presence could foster greater participation and competition, creating a healthier and more dynamic ecosystem for startups and investors.

Additionally, investment in the fintech sector has been robust, accounting for 34.8% of total investment in 2022, equivalent to USD$2,700 million in 190 deals. According to Mordor Intelligence, the outlook is promising, with the expected growth of the crowdfunding market at a CAGR of over 16% during 2021-2026.

Crowdfunding market: growth, trends, impact of COVID-19 and forecasts (2023 - 2028)
Crowdfunding market: growth, trends, impact of COVID-19 and forecasts (2023 – 2028). (Source: Mordor Intelligence).

Vaki seeks to change the donation paradigm in Mexico, making it accessible for everyone to donate as little as USD $1. The platform aims to broaden the horizon of donations and transform how Mexicans approach contributions, encouraging a more active and participatory attitude.