These entrepreneurs use innovation and technology to improve Mexicans’ personal finances by promoting savings, providing loans and insurance, and building financial capacity and professional skills in the country.
5 min read
The opinions of the employees of You are personal.
- In Mexico, only 34.8% of Mexicans keep a budget or record of their income and expenses.
- SAFINN Unreasonable is the first initiative to bring financial health to all Mexicans.
- One year after the first generation of SAFINN, the initiative was able to positively influence more than 99,079 people, create 115 jobs and raise more than 110 million pesos in capital.
According to the National Policy for Financial Inclusion (PNIF)In Mexico, 58% of the population was able to meet their expenses with current income, while 43% could face an economic emergency, 40% set long-term economic goals, and only 34.8% kept a budget or record of their income and expenses.
With this in mind, Unreasonable Mexico, in collaboration with the MetLife Foundation, co-founded SAFINN Unreasonable, the first initiative to bring financial health to all Mexicans.
As part of this initiative, they selected 10 entrepreneurs who are using innovation and technology to improve Mexicans’ personal finances by promoting savings, providing loans and insurance, and building financial capacity and professional skills in Mexico. . With SAFINN Unreasonable, the selected entrepreneurs from more than 300 applicants from every state in the country are accelerating their business and their impact as part of a personalized program.
“The SAFINN initiative aims to scale solutions to promote the financial health of Mexicans, so that more people have greater economic stability, the ability to better manage their finances, find better income opportunities and to face any emergency while planning financial security for their future, ”said Nalleli García Gutiérrez, Social Responsibility Manager, MetLife Foundation.
One year after the first generation of SAFINN, the initiative was able to positively influence more than 99,079 people, create 115 jobs and raise more than 110 million pesos in capital.
“This great alliance that we have formed with the MetLife Foundation has enabled us to strengthen more than a hundred thousand people economically. Today more than ever, entrepreneurs like her are the ones who are needed in Mexico. We need to end financial uncertainty as in these troubled times the power of solutions that incorporate innovation and technology on a large scale is evident. We believe this alliance has the potential to change the rules of the game in Mexico, ”said Raúl de Anda, co-founder of Unreasonable Mexico.
These are the 10 companies selected by SAFINN Unreasonable who shared their history and mission with more than 18,000 people at the recent Unreasonable Festival, organized by Unreasonable Mexico and the MetLife Foundation:
- Solid progress:: They offer women in vulnerable situations microloans at fair rates (rate of 36% and CAT of 40%) for productive projects or do-it-yourself work. You have helped more than 22,000 people.
- Check finance:: Échale has given one million vulnerable people access to housing. Now with Échale Financiera they have helped 4,000 families with bespoke loans and programs with savings goals.
- Endemics:: They connect decorative plant producers with value markets through technology transfer processes, increase their income to over 300% and have reached more than 1,000 beneficiaries.
- Ethic Hub:: They provide micro-producers of honey and coffee with access to basic financial services through technology Blockchain. So far, 730 people have benefited from it.
- IF:: They offer micro and small businesses a financial diagnosis in minutes using a virtual business assistant. You have benefited 1,850 miPymes in Asia and America.
- Ingenia Concretos:: They offer people in vulnerable situations sustainable and adequate housing and enable them to build wealth through accessible credit (annual rate 20% CAT 23%).
- La Cosita Chula:: They connect artisans in vulnerable communities to quality markets and increase their incomes by more than 200%.
- Maria Josefina:: They empower women entrepreneurs in poverty situations through purchase and sale contracts on value markets, increase income and reduce volatility.
- MoyoAi:: Based on artificial intelligence, they create credit scores that enable the most vulnerable sectors to access decent goods and services. You have more than 3,000 beneficiaries.
- Smartfish:: It is the only marketer in Mexico that sells only seafood of sustainable origin, which also lifts hundreds of fishermen out of poverty.