Mexican startup Covalto has transitioned from operating as a fintech company to becoming a digital bank with the aim of revolutionizing support for small and medium-sized businesses in Mexico. The move signifies a strategic shift in its business model, allowing Covalto to provide a wider range of financial services tailored to meet the unique needs of Mexican SMEs. This transition positions Covalto as a key player in the financial technology sector, offering innovative solutions to empower businesses in the region. Founded by Sergio Arias, Covalto's evolution into a digital bank marks a significant milestone in its growth trajectory and underscores its commitment to driving financial inclusion and growth for Mexican SMEs. By leveraging technology and an understanding of the local business landscape, Covalto aims to streamline financial processes, increase access to capital, and boost the overall efficiency of SME operations. This strategic pivot reflects the company's dedication to addressing the specific challenges faced by small businesses in Mexico and signals a new phase of expansion and impact in the fintech industry. With this transition, Covalto seeks to maximize its impact on the Mexican SME ecosystem by offering a comprehensive suite of digital banking services that cater to the financial needs of businesses of all sizes. By combining fintech innovation with banking infrastructure, Covalto positions itself as a transformative force in the industry, bridging the gap between traditional banking services and modern financial technology solutions. The company's evolution to a digital bank signifies a bold step towards driving financial empowerment and growth for SMEs in Mexico, paving the way for a more inclusive and accessible financial system in the region.
Covalto Transitions from Fintech to Digital Bank to Support Mexican SMEs
Covalto undergoes a transformative shift from fintech to digital banking to empower small and medium-sized enterprises (SMEs) in Mexico.
