Finnovista, an impact organization that empowers Fintech and Insurtech ecosystems in Latin America and Europe, today announces the five Fintech and Insurtech startups with high-growth potential, that will be part of the third generation of the Startupbootcamp Scale Fintech program.
Established in 2017, Startupbootcamp Scale Fintech is a unique program in Latin America, created specifically for later-stage high-growth startups. It is designed to the specific needs of the chosen startups; to help the businesses expand globally, increase their revenues and access fundraising opportunities.
“We are committed to being an ally for the best Fintech and Insurtech startups, to enable them to achieve growth and expand into Latin American markets. The success of prior generations of startups from the program is proof that our methodology works; coupled with the support, mentorship and networking opportunities with key industry players that we present to them,” says Christine Chang, Managing Director of Startupbootcamp Scale Fintech.
This year the program received 27% more applications than last year. The increased number and quality of the startups indicates the maturity of the Fintech and Insurtech ecosystems in Latin America. Startupbootcamp Scale Fintech have seen a broader range of applications and an uptick in the number of non-Mexican companies applying to the program. For example, several companies specifically applied due to the perceived attractiveness of the Mexican market for its growth potential and innovation.
The Scale program will begin on December 9th, where the selected startups will be joined by our corporate partners, mentors and the Startupbootcamp Scale FinTech team. The chosen startups are:
● Ai360 (Mexico): Online house appraisal platform reducing friction in the real estate industry.
● Apperto (Argentina): Super app for small and medium-sized Latin American cities.
● Bederr (Peru): Improves customer retention and loyalty by providing a white label solution so that any company can easily set up its own loyalty program.
● Kobra (Mexico): Digital platform helping financial entities attract more customers by giving them access to trusted financial agents for last-mile distribution.
● Koibanx (Argentina): Blockchain payments platform for financial institutions that allows them to create their own payment ecosystems and the opportunity to serve unbanked users.
● Siembro (Argentina): Digital financing platform for the agricultural industry.
The selection was the result of a three-month scouting process throughout the region, and ‘Selection Days’ - an evaluation event - held on November 11th and 12th.
The 12 best FinTech and Insurtech startups - selected from 127 applicants from across more than a dozen countries - attended the event. More than 60 mentors and representatives from the corporate partners: Visa, Scotiabank, HSBC Mexico, Banregio, IGNIA, Latinia, Fiinlab powered by Gentera, EY Mexico and White & Case, were also present.
Startupbootcamp Scale FinTech will work with the startups over a period of six months, via a combination of in-person and virtual workshops, starting on December 9th. The teams must travel to Mexico City every four weeks for in-person sessions with mentors, corporate partners and the local team.
At the end of the program, the teams will present their projects to more than 200 investors and industry experts at Demo Day - the program ending event that will take place in May 2020 - to raise capital and grow their businesses.
After graduating, startups will continue to be supported by the Startupbootcamp Global Alumni growth program.