Grupago Raises $4.3M in Seed Funding
Summary
Grupago, a Mexico City, Mexico-based fintech startup providing a digital microcredit for small businesses (SMBs) in Latin America, raised $4.3M in Seed funding. They were also joined by a number of angels across the United States and Mexico, including Zac Bookman (CEO, OpenGov), Oso Trava (Cracks Fund), Pepe Shabot (CEO, ION Mexico) and Paul Sawaya (co-founder, Human Interest). The company intends to use the funds to expand operations and development efforts. Led by Founder and CEO Uri Pomerantz, Grupago provides a digital microcredit platform for small and mid-sized businesses (SMBs) in Latin America, leveraging artificial intelligence, group collateral and community distribution to extend credit to micro-SMBs across the region who have been shut out of traditional SMB lending avenues. Grupago is currently active in Mexico and seeks to scale across Latin America over time.