The round was led by Hetz Ventures with the participation of F-Prime Capital and Foundation Capital. The proceeds will help the team grow, consolidate operations in Mexico and launch Brazil.
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Mozper, the startup offering a debit card and application to children and parents in Latin America, announced the completion of a $ 3.55 million startup round, funded by Hetz Ventures with the participation of F-Prime Capital, Foundation Capital , is directed. Secocha Ventures, former investors Dux Capital and John Farrell.
The new round will allow Mozper to further position itself as a pioneer in youth banking in Latin America by cementing its presence in the Mexican market where it was launched three months ago. In 2021 it will expand to Brazil, enriching the product and scaling the organization.
This final round brings the company’s total funding to $ 5.1 million and comes just months after a $ 1.6 million pre-seed round was announced by DUX Capital and the Angel, among others – Investor John Farrell, including YCombinator. where Mozper was part of the generation “Summer 2020”.
“We believe that the Latin American market is a blue ocean for fintech innovations,” commented Pavel Livshiz, partner at Hetz Ventures. “We were very impressed with the ability of Gabriel, Yael and Pablo to quickly implement their vision of banking the generation Digital first early and impressive from Latin America ”.
The founders Pablo Klestorny, Yael Israelí and Gabriel Roizner started building Mozper in January 2020 and announced in a joint press conference with Visa the start in Mexico in August 2020 with a closed beta test in which 500 families and more participated Mozper quickly showed signs that it was an attractive product for the Mexican market.
After the successful beta test – more than 90% of the participating families continue to use the app – Mozper offered his app to the public on November 2nd and recorded a steady growth of 20% week after week.
Mozper is bringing traditional Sunday into the digital age in Latin America, where around 70% of the population have never had a formal financial education and don’t have the right tools to educate their children. In Brazil and Mexico alone, parents give their children more than $ 10 billion in pocket money every year.
With increasing digital adoption in the region and a shift in children’s spending habits from cash to online use, parents now need an easier way to give their children digital money while monitoring their spending. Time they instill healthy financial habits.
“We are excited to bring financial education and youth banking to the Latin American market starting in Mexico,” said Gabriel Roizner, CEO of Mozper. “By using our Visa debit cards and the app, kids get a hands-on, real-world financial education suitable for the digital age. We really believe that without education there is no financial inclusion. “