“Grupago Secures .3M in Initial Funding”

Grupago, a fintech startup based in Mexico City, has successfully secured .3M in Seed funding to support its digital microcredit platform for small businesses (SMBs) in Latin America. The funding round was led by Deciens Capital and included participation from Precursor Ventures, Clocktower Ventures, Twine Ventures, as well as several other venture funds and individual investors from the United States and Mexico.

The aim of the funding is to drive the expansion of Grupago’s operations and further develop its innovative platform. Led by Founder and CEO Uri Pomerantz, the company utilizes artificial intelligence, group collateral, and community distribution to provide credit to micro-SMBs that have struggled to access traditional lending channels in the region.

Currently operating in Mexico, Grupago has plans to expand its services across Latin America, with a particular focus on offering group loan products tailored to women entrepreneurs. The company’s mission is to empower small and mid-sized businesses in the region by providing them with the financial support they need to grow and thrive.

With this latest round of funding, Grupago is poised to make a significant impact on the SMB lending landscape in Latin America and pave the way for greater financial inclusion in the region.