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500 startups are investing in 10 Latin American companies during the pandemic

July 28, 2020

These are the companies that have been selected for their investment and acceleration program.

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500 startups are investing in 10 Latin American companies during the pandemic500 startups are investing in 10 Latin American companies during the pandemic

The pandemic has forced us to adapt and move forward, including large companies and startups. For this reason, the international investment fund 500 startupsFrom his office in Mexico City for Latin America, he held on to his 2020 investment plans and opened his bid at the end of March this year to find 10 companies to invest in.

This selection process, which the fund runs twice a year, this time received a record number of startups that applied for 1,957 Latin American companies to be valued and had the opportunity to receive an investment of $ 60,000 per company.

500 startups complement your investment with a 16-week acceleration program that they traditionally offer in their offices in Mexico City. This time they decided to migrate it to a 100% remote version in response to COVID-19.

While the fund is running the program remotely for the first time, there are many benefits to doing so. First, company founders don’t have to spend time switching to CDMX as they were requested in the past, which also affects travel cost savings. On the other hand, the fund’s program relies heavily on its international network of mentors, who they say are easier to use because they don’t require travel and spend several days in Mexico City.

“We have designed our acceleration program in such a way that the chances of success of the companies in which we invest are increased, but above all contribute to the professional development of each individual founder. That is one of our main goals. Regardless of whether the program is face to face or remotely controlled, as a team we are ready to use all our energy to achieve it. “Says René Lomelí, partner of 500 startups.

The selection process for funds consists of several phases, the second to last being a group interview in which 76 companies were assessed. Some interesting trends identified by the fund include data that 18% of companies are fintech, the most represented industry, 76% an internal technology team and 37% women in the founding team.

Of the companies selected, 5 are from Mexico, 3 from Chile and 2 from Argentina and started the remote acceleration program on July 13th.

These are the 10 Latin American startups selected by 500 startups for their twelfth generation:

  • Agrapp (Chile): Intelligent field protocol that farmers can use to manage their business quickly and easily.
  • Chipax (Chile): Online platform for controlling cash flow for SMEs.
  • Beauty circle (Mexico): Community and online shop for the professional beauty sector in Mexico.
  • How I want (Chile): weekly platform for planning home menus with one-click shopping list.
  • Gueno (Argentina): Automation tool for all requirements when registering new customers.
  • Pagaris (Mexico): Payment method to finance online purchases in Mexico.
  • Pure spirit (Argentina): Meditation application in Spanish for individuals and businesses.
  • SeeMexico (Mexico): Online travel agency with subscription model and payment options.
  • Vech (Mexico): Financial services for employees of digital platforms in Mexico.
  • YoFio (Mexico): Microcredit application for corner purchases.

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