Mexican company Solvento raises a $5 million seed round led by Ironspring Ventures

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  • Solvento is rapidly disrupting the payment infrastructure for the Latin American transportation industry. Using proprietary technology and data, the fintech digitizes the full verification and payment process for shippers, 3PLs and carriers.
  • The company will use the capital to further strengthen its product line, hire talent and expand its commercial footprint.
  • Solvento integrates with transportation management systems and logistics workflows, giving carriers access to payment and credit efficiencies.

MEXICO CITY, Mexico – (Newsfile Corp. – October 7, 2022) – Solvento, the first fintech focused on the transportation sector in Mexico, announces a $5 million seed round led by Ironspring venture known.

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Solvento is building the payment and credit infrastructure for the truck sector in Latin America, benefiting all parties along the supply chain. It automates payments, funds invoices and meets carriers’ liquidity needs so they can focus on operations and growth. Through its platform, Solvento seeks to build a stronger supply chain through reliable, flexible and easy-to-use tools. The company is on a journey to make paying for freight shipments easy and trustworthy at every step of the supply chain.

To date, Solvento has provided more than $13 million in cumulative loans, helping more than 4,000 truckers improve their financial situation, collect bills when they need it, and give them absolute certainty about when they’ll get paid. Automating payments for Mexico’s 3PLs represents a $4.6 billion opportunity in 2022 alone, which is expected to grow to $7.8 billion by 2025.

“Carriers are the unsung heroes of this country,” said Jaime Tabachnik, CEO of Solvento. “Without them, our economy would not move. The aim of Solvento is to promote the growth of small and medium-sized carriers. We help both carriers and intermediaries solve their day-to-day problems by simplifying and automating their payment and collection processes.”

Transportation is one of the cornerstones of the Mexican economy. Free and efficient movement enables nationwide productivity by allowing goods to be moved from their place of origin to where they can achieve the greatest value. LatAm’s trucking market is booming with increasing cross-border trade, e-commerce penetration and technology-driven logistics solutions, and represents a $200+ billion market growing at more than 10% annually.

Solvento’s successful business model was recognized by FreightWaves in their FreightTech 100 ranking (2023) as one of the fastest growing and most innovative companies in the global supply chain ecosystem.

Solvento will use the funding to accelerate development of its truck-focused fintech product roadmap, hire talent in strategic areas, and expand its commercial efforts to the rest of the country to meet the growing needs of the $200 billion truck market in LatAm.

About Solvento

Solvento is a Mexican fintech founded in 2021 that offers companies in the freight forwarding industry technological and financial solutions that enable them to automate and accelerate their collections and payment processes. Solvento has more than 100 customers, including major players in the logistics and freight forwarding sector, such as 99 Minutos, Packengers, Onest Logistics, CLG Transportes, Condumex, Transportes EASO, Liftit, Logtec and GAIA. More at www.solvento.mx.

About Ironspring Ventures

Ironspring Ventures is an early-stage venture capital fund investing in innovation in the digital industrial supply chain. The fund’s sector-focused approach partners with world-class founders and teams that are revolutionizing the way we design, build, distribute and operate in the physical world. More at ironspring.com.

Press contact:
GDC advice
Maria Jose Gonzalez de Cossio
Telephone (55) 5167.6086
[email protected]

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/139834

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