Contxto – The clock is ticking! Next Friday (15) is the last day for startups to apply for the 2020 edition of Finance Forward Latin America. Village Capital, in collaboration with the MetLife Foundation and Paypal, manage this program to offer fintechs the opportunity to identify key milestones in their development and help them grow.
Among the perks of being selected are its mentorships with investors and founders. Not to mention startup reps get to participate in 12-day workshops. These may take place in Brazil and Mexico but will depend on how the coronavirus pandemic evolves.
Otherwise, they may be held remotely.
Oh, and who can forget, the top two selected startups receive a US$50,000 grant from the MetLife Foundation. Meanwhile, startups who take third to fifth place will receive US$16,000 grants.
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Fintech needed now more than ever, says Village Capital
Times are tough and the region needs its fintechs. However, they can’t contribute without the proper networks and funding to help themselves first.
“We’ve already seen how this crisis has had the most devastating financial effect on the low income population,” said Daniel Cossío, Regional Manager for Village Capital in Latin America.
“Now more than ever we need tech-driven innovation to help small businesses stay afloat and help families manage their income and support the region in what is bound to be a challenging recovery.”
- Related article: 10 lessons for fintech in a post-Covid world
Correspondingly, Village Capital outlines that startups should address financial health challenges for low-to-moderate income communities and/or micro/small businesses.
Finance Forward Latin America: what it takes
In addition, Village Capital and its partners are looking for fintechs that:
- Are incorporated as for-profit entities.
- Have operations in Mexico, Chile, Brazil, Argentina, Colombia, or Peru.
- Have at least one full-time founder in any of the aforementioned countries.
- Have a minimum viable product (MVP).
- Have raised less than US$1 million in equity.
- Have pilot studies, evidence of business validation, number of users, and/or strategic partnerships.
To read the full call for applications, check out this page.
Related articles: Tech and startups from Chile!
-ML
