The Venture Codex

Participated · Series B · Oct 2022

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.

Participated · Series B · Jul 2021

VU’s platform links a user’s "online persona" with geolocation, biometrics and behavior analysis to enable identity verification and continuous authentication. The technology is used mainly with government entities and enterprise customers, including Santander and Prisma. VU operates across Latin America and Europe and has opened offices in Madrid and New York, with plans for offices in Italy, France and the U.K. The company has grown to more than 150 employees over the past three years. It is averaging 85% year-over-year revenue growth and expected 100% growth forecasted for 2022. VU aims to remove friction in digital experiences such as one-click e-commerce checkout and bank identity verification.