Tienda Pago is a fintech that provides short-term credit to small convenience stores in Mexico and Peru to purchase stock from established consumer goods companies and distributors. It allows stores to receive stock for a week while Tienda Pago pays suppliers directly via bank transfer. The company uses mobile technology and business models to reach financially underserved populations and foster financial inclusion. Led by CEO Dan Cohen, Tienda Pago said it will use the Series B proceeds to accelerate growth and expand operations and its business reach. The company operates across Mexico and Peru. Tienda Pago offers short-term working capital to micro and small enterprises to fund inventory purchases from distributors, paying distributors directly and collecting repayments from shop-owners. The company has built a closed-loop electronic payment mechanism using cell phones to enable distributors to collect payments and reduce inefficiencies and costs. Tienda Pago partners with major FMCG distributors and acquires client stores through those distributor relationships. Shop-owners receive inventory and repay Tienda Pago within 1–2 weeks after sales turnover via an electronic mobile payment platform. The company ran operational pilots lending to over 300 mom-and-pop stores and, following the pilot, expects to serve more than 10,000 clients throughout Latin America by the end of 2016. Tienda Pago currently operates in Peru and Venezuela and counts distributors such as Gloria, Nestle, and SABMiller among its clients. It will use the new funding to expand into Mexico and to find new distributor partners.

Total raised

$12M

Funding rounds

2

Latest round

Series B

Latest activity

Oct 2022