Solvento, the first Fintech focused on the transportation sector in Mexico, announces a capital round for 5 million dollars.
The American fund Ironspring Ventures led the round, which also included the participation of Quona Capital, Proeza Ventures, Dynamo Ventures, Zenda Capital, Susa Ventures, 9yards Capital and Supply Chain Collective. Likewise, a group of angel investors participated, among which Felipe Capella (CEO and co-founder of Loadsmart), Craig Fuller (CEO and founder of Freightwaves) and Alexis Patjane (CEO and founder of 99 minutes).
Solvento is building the payment and credit infrastructure for the autotransportation sector in the region, benefiting all those involved. It automates payments, finances invoices and solves carriers’ liquidity needs, allowing them to focus on their operation and growth.
Through its platform, Solvento seeks to build a stronger supply chain through reliable, flexible and easy-to-use tools. The company has the vision that payments to carriers are immediate and thus have a huge impact throughout the supply chain.
To date, Solvento has granted loans accumulated for more than 13 million dollars, helping more than 4,000 carriers to improve their financial situation, collecting invoices when they need it and being certain of the day they will receive their payment.
Payment automation for Mexico’s 3PLs is an approximately $4.6 billion opportunity this year and is expected to grow to $7.8 billion by 2025.
“Carriers are the unsung heroes of this country, without them our economy does not move. Our goal is to promote the growth of small and medium-sized carriers, as well as intermediaries to face their daily problems by simplifying and automating their payment and collection processes”, says Jaime Tabachnik, CEO of Solvento.
Transportation is one of the pillars of the Mexican economy. Free and efficient movement enables productivity, by allowing goods to move from their point of origin to reach the place where they can generate more value.
The Latin American trucking market is experiencing exponential growth as a result of increased cross-border trade, e-commerce penetration, and technology-driven logistics solutions.
Solvento’s successful business model has been recognized by FreightWaves in its FreightTech 100 (2023) ranking, as one of the fastest growing and most innovative companies in the global supply chain ecosystem.
“Boosted by new transportation relocation trends, e-commerce growth and regulatory changes, the Solvento team has served as an innovative FinTech solution with a rapidly expanding customer base and more than 15,000 freight invoices financed. in less than a year. As a supply chain-focused venture capital fund based in Austin, Texas, we have closely watched how cross-border trade between the US and Mexico will only accelerate Solvento’s mission,” said Ty Findley, General Partner from Ironspring Ventures. Findley will join Solvento’s Board of Directors.
“Independent motor carriers are the soul of the Mexican economy, but they are neglected by traditional financial institutions. Existing manual paper processes cause significant delays in invoice reconciliation and settlement, creating cash flow pressures for SMEs that represent ~50% of the market,” said Rafa de la Guía, partner at Quona Capital. “Solvento’s integrated finance solutions and verticalized SaaS allow access to much faster payments and credits.”
Solvento will use the new resources to accelerate the development of its digital platform, hire talent in strategic areas and expand its commercial efforts to the rest of the country to meet the growing needs of the Latin American trucking market, valued at 200,000 million dollars.
Editorial Team The editorial team of EMPRENDEDOR.com, which for more than 27 years has worked to promote entrepreneurship.