Participated · Series A · Feb 2023

Vexi offers a credit-card product (issued through American Express) focused on bringing lower-cost credit to underserved, often informal-economy, consumers in Mexico. The company does not yet offer checking or savings accounts and runs its own issuing and processing (no third-party issuers/processors), which it says boosts interchange revenue. Its product includes interest-free installments, cash back, purchase insurance and tiered credit with interest rates reported in the range of 29%–79%; Vexi uses a homegrown credit-scoring system to increase limits and lower rates as customers demonstrate creditworthiness. Roughly 75% of cardholders are 18–35, average customer income is $600–$800 per month, nearly 60% are self-employed, and Vexi has issued about 850,000 cards after 2.5 million applications. The company reports revenue grew 4x over the past 24 months and says it reached those application and issuance figures with less than $4M in equity before this Series A. Vexi plans to grow its customer base, hire talent, improve its proprietary tech stack and risk algorithms, and eventually expand beyond Mexico into other parts of Latin America.

Participated · Series A · Mar 2021

Elenas digitizes traditional catalog and door-to-door sales so independent sellers can browse hundreds of thousands of wholesale products, set markups and promote items via social channels like WhatsApp and Facebook. The company handles product sourcing, delivery and payment collection, and focuses on nonperishable categories such as beauty, personal care, home goods, fashion and electronics. Since launching, more than 100,000 women in Colombia and Mexico have sold over 2 million orders and earned millions of dollars on the platform; Elenas estimates 11 million women in Latin America sell via the traditional channels it is targeting. The company reports revenue grew more than 5x between Series A and Series B and says it has achieved a profitable and sustainable growth model in Mexico, which now represents over a third of its business. Headcount has more than doubled to 230 employees, and the company reaches 600 towns including rural areas not previously served. Plans include scaling the seller network in Colombia and Mexico, investing in engineering and product, and building seller business-management tools, product recommendations, CRM and financial services for an underbanked seller base. Elenas operates a mobile app and backend operating system that lets independent sellers browse a catalog of products (beauty, personal care, electronics) from more than 250 distributors and brands and sell them at marked-up prices via social channels. The company and its distributor partners handle payment collection and delivery, and neither Elenas nor the entrepreneurs hold inventory. Elenas provides automated onboarding and in-app training for sellers and reports it has paid out more than $7 million to its sellers. The platform says it supports tens of thousands of sellers (estimated >95% women; 80% under 30 and about a third without prior direct‑sales experience). Demand has grown amid high unemployment—particularly among women—and reduced in-person shopping during the pandemic. One of the company’s next steps is regional expansion across Latin America, beginning with Mexico and then Peru.

Participated · Series B · Jul 2020

Liftit provides scheduled trucking delivery services that integrate with shippers' systems to plan trucks, optimize routes and reduce delivery times. The platform focuses on scheduled shipments rather than on-demand work—less than 1% of deliveries come from on-demand orders—and targets efficiencies for independent truck owners across Latin America. During the COVID-19 pandemic the company had 220 contracts with shippers; about half went to zero while the other half spiked, with new business such as Walmart increasing usage. Liftit is already profitable in Chile and Colombia and expects to reach profitability across all operations before the end of the year. The company says it is focusing on the five countries where it already operates and is expanding in Brazil, Mexico, Chile and Ecuador, and has recently hired heads of operations for Mexico and Brazil. That regional expansion aims to capitalize on increased demand and operational traction driven by pandemic-related shifts in logistics.