YoFio
Date | Investors | Amount | Round |
---|---|---|---|
- | N/A | - | |
* | N/A | Debt | |
* | $5.0m | Seed | |
* | N/A | $5.0m | Debt |
Total Funding | CAD6.8m |
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Recent News about YoFio
EditYoFio is a financial technology company focused on transforming the transactional landscape of informal corner stores in Latin America. By providing micro point of sale (POS) lending, YoFio digitizes the way millions of these stores and their unbanked clients conduct business. The company serves informal corner stores, their unbanked customers, and the fast-moving consumer goods (FMCG) companies that supply them. YoFio's business model revolves around a simple app-based POS system that initiates lending transactions, allowing end users to use a mobile wallet to make purchases and pay in weekly installments. Additionally, YoFio offers a one-click Merchant Cash Advance on sales processed through its platform. This innovative approach not only facilitates digital transactions but also provides much-needed financial services to a largely unbanked population, thereby fostering financial inclusion.
Keywords: Micro POS lending, Latam corner stores, unbanked clients, mobile wallets, weekly installments, financial inclusion, informal markets, FMCG suppliers, Merchant Cash Advance, digital transactions.