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Logistics Fintech Solvento Raised USD $53.5M to Further Expand Within Mexico

Solvento, founded in 2021 by Jaime Tabachnik, Guillermo Bosch and Pedro Bosch is a fintech startup based in Mexico City. It aims to alleviate the working capital challenges faced by small and mid-sized trucking companies in Mexico, a sector with over 200,000 companies, most of which operate with fewer than 30 trucks. Solvento provides these companies with access to capital, helping them manage operational expenses like fuel and payroll. The platform integrates with existing logistics management systems, offering credit lines to trucking companies and facilitating the advance of payments for delivered goods.

Since its establishment in 2021, the firm has successfully raised US $10M. This Wednesday, Solvento introduced 'Solvento Audita', an innovative software powered by artificial intelligence for auditing and billing, aimed at enhancing billing transparency in the supply chain.

Together with the software launch, Solvento reported securing a US $50M in debt financing from Lendable. Additionally, the company completed a US$3.5 million seed funding extension led by Quona Capital. This round, which included contributions from Dynamo Ventures, Ironspring Ventures, Proeza Ventures, and Zenda VC, will support the expansion of Solvento’s loan products in Latin America.

Solvento Audita integrates with transportation management systems and commonly used apps in Latin America, such as WhatsApp. This allows the software to automatically identify and verify required billing documentation, ensuring accuracy in the information carriers need. This system aims to replace the manual billing processes typically used by carriers and brokers.

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