10 financial services startups from the Andean region will receive support from Krealo and Seedstars
The selected firms will receive an investment of up to $150,000 and specialized mentoring.
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Krealo, the Corporate Venture Capital (CVC) of the Credicorp Group, recently announced the launch of the accelerator program “The Future of Financial Services,” an initiative that seeks to identify and support the 10 most promising startups in the pre-seed stage focused on financial services in Peru, Colombia, and Chile.
The initiative is carried out in collaboration with BCP's Centro de InnovaCXión and will be executed by Seedstars, a Swiss investment company with 10 years of experience in the implementation and execution of growth programs for early-stage companies and whose mission is to impact the lives of people in emerging markets through technology and entrepreneurship.
Adolfo Vinatea, CEO of Krealo, said in a press release:
With ‘The Future of Financial Services’ we want to continue promoting the development of this ecosystem in the region, given its importance in issues that matter deeply to us such as digitization and financial inclusion. We invite all Peruvian, Colombian and Chilean startups to apply for this program that goes beyond financing.
Resources and Mentoring
The Future of Financial Services is a three-month program that will provide selected startups with access to one-on-one international mentorship, as well as executive sessions with leaders from BCP's InnovaCXión Center.
In addition, the selected startups will receive an investment of $50,000 and at the end of the program they will have the opportunity to receive up to an additional $150,000 of investment.
The program, aimed at legally registered pre-seed startups that operate or plan to operate in Peru, Colombia or Chile, that can demonstrate customer traction and revenue, seeks to specifically support firms that are using technologies, such as AI, Machine Learning, Blockchain, and Web3 in the context of financial services, and those who are formulating business models in the areas of Open Finance, including Open Banking, Open Data, or Embedded Finance.
Lanzamos el programa acelerador de fondos ‘Future of Financial Services’, impulsado por #Krealo, el Centro de InnovaCXión del @BCPComunica y @Seedstars. Queremos identificar a las startups con foco en servicios financieros más prometedoras de: https://t.co/hQweqV0LNH pic.twitter.com/jLTAVa72OD— Credicorp (@CredicorpGroup) July 11, 2023
“Our goal together with Krealo is to support the consolidation of the financial services ecosystem in Colombia, Peru and Chile. We are on a mission to seek out the most innovative financial services startups and provide them with a unique set of skills and resources to achieve their next stage of growth in such a rapidly evolving ecosystem,” said Paula Garcia-Malpica, LATAM regional manager at Seedstars.
Startups can apply to the program until Aug. 31, 2023 by clicking here.
It was born at the beginning of 2018 as the Corporate Venture Capital of the Credicorp holding company.
Its purpose is to identify, evaluate and invest in fintechs or startups in the Andean region that include financial services within their operations, which translates into a market of more than 100 million people between Peru, Chile and Colombia.
It is a Swiss-based company whose mission is to influence the lives of people in emerging markets through technology and entrepreneurship.
Seedstars works with the public and private sectors to launch business training programs to create jobs and drive economic growth.