Magma Partners

Magma Partners is an early-stage venture capital firm established in 2014 and headquartered in Santiago, Chile. The firm specializes in supporting Latin American entrepreneurs as they expand into the US market, with a particular focus on fintech, insurtech, and blockchain startups. Magma Partners has a global reach, maintaining offices in California, Colombia, Mexico, and China, and has invested in 38 companies across various countries, including Chile, the USA, Mexico, Colombia, Peru, Argentina, Puerto Rico, and Costa Rica. Currently, the firm is investing through its second fund, which has raised $15 million from partners in Chile, the US, and China. Additionally, Magma Partners runs the Sino-Latin American accelerator, aimed at facilitating business opportunities between Chinese entrepreneurs and Latin American markets.

Pedro Pablo del Campo Klerman

Partner

Alexa Clark

Associate

Claire Diaz-Ortiz

Partner

Rodney Dir

Venture Partner

Makote Gutierrez

Partner

Jie Hao Ph.D

Venture Partner

Juan Kontarovsky

Investor

Jiating Li

Principal

Nathan Lustig

Managing Partner and Co-Founder

Eugenio Perea

Venture Partner

Francisco Saenz Rica

Co-Founder and Partner

Sophia Wood

Venture Partner

Past deals in Mexico

Zenfi

Venture Round in 2023
Developer of a financial application designed to improve consumer finances. The company's application allows users to understand their tax information, tax regime, and its obligations, also consequently set payment date reminders, set credit card spending limits, and help them identify how much and on what they spend most with their credit cards, providing users with a right tool to track and control their spendings.

Heru

Seed Round in 2022
Heru builds the a community of gig-economy workers and have a suite of services that help improve their way of life and general well-being. The company's mission is to improve the conditions of independent workers by building, through technology, services, and benefits according to their needs and lifestyle.

Plerk

Series A in 2022
Plerk is a company that enhances employee satisfaction and productivity by offering flexible perks and benefits. Established in 2019 and based in Guadalajara, Mexico, Plerk operates an online platform that simplifies the booking and management of business trips. The platform allows organizations to set travel policies and track expenditures, while simultaneously encouraging employees to make cost-effective travel decisions. By focusing on improving workplace happiness, Plerk aims to boost productivity by 80% and increase employee retention by 50%.

Verqor

Seed Round in 2022
Verqor is a financial technology platform that aims to transform the agricultural sector by facilitating access to cashless credit for farmers. Through its innovative platform, farmers can purchase supplies and machinery on credit, enabling them to enhance their productivity. Verqor employs alternative data-driven credit scoring methods to promote financial inclusion, allowing financial institutions to issue low-risk credits based on a more comprehensive assessment of farmers' creditworthiness. Additionally, the platform fosters connections among various stakeholders in the agriculture industry, including buyers, sellers, and financial institutions, improving transparency and control within the supply chain. By leveraging technology and alternative financing solutions, Verqor supports farmers in optimizing their operations and accessing essential resources.

Paisa

Pre Seed Round in 2022
Paisa focuses on enhancing financial security for families reliant on remittances. The company has developed a credit platform that aims to improve financial health by utilizing the remittance cash economy to bolster digital financial services. It provides business-to-business lines of credit to remittance agencies, helping them address liquidity challenges. Additionally, Paisa offers microloans directly to remittance recipients, facilitating easier access to loans for individuals who depend on these funds. Through this approach, Paisa seeks to create a more robust financial infrastructure that supports both businesses and consumers in the remittance ecosystem.

Koltin

Pre Seed Round in 2022
Operator of a dedicated health insurance company intended to provide insurance and preventative care services to seniors in Mexico. The company's platform specializes in providing health plans, and remote support services that include accident insurance, medical emergencies, insurance for major medical expenses, and unlimited preventive advice by specialists, enabling the elderly to enjoy their independence for longer while maintaining their physical and mental abilities.

Vexi

Venture Round in 2022
Vexi is a financial technology company based in Mexico City, founded in 2016. It specializes in providing credit card services aimed at the young, underbanked population in Latin America, facilitating access to formal credit. Through its mobile application, Vexi enables users to create personalized payment plans, manage their expenses, and build their credit history with minimal documentation. The company offers both a digital credit card for online transactions and a physical card for in-person purchases, all designed to enhance user experience and financial literacy. Vexi's proprietary technology aims to streamline the onboarding process, making credit more accessible and secure for underserved individuals.

CuraDeuda

Venture Round in 2022
Cero Deuda, S.A. de C.V. offers debt management servies. The company negotiates with banks and financial institutions on behalf of clients. Cero Deuda, S.A. de C.V. was founded in 2011 and is based in Mexico City, Mexico.

Riogrande

Seed Round in 2022
Developer of an e-commerce platform designed to acquire, build, and scale online brands and optimize and integrate operations. The company's platform helps to build the next generation of online brands by collaborating with e-commerce entrepreneurs to grow and strengthen brands, enabling businesses with greater economies of scale and higher targets.

Mendel

Series A in 2021
Mendel Biotechnology, Inc. is a plant biotechnology company based in Hayward, California, focused on developing genetic and chemical solutions for various agricultural markets. Founded in 1997, the company specializes in enhancing agricultural productivity through innovations in biofuel feedstocks, yield enhancement, drought and freezing tolerance, disease resistance, nutrient use efficiency, and cold germination. Mendel has established strategic partnerships with notable organizations in the industry, including Monsanto Corporation, BP, and Bayer CropScience. Its operations extend across the United States, Europe, and China, reflecting a commitment to advancing agricultural technology and sustainability.

Sincero

Pre Seed Round in 2021
Sincero is a provider of digitally managed health insurance tailored for human resources teams and their employees. The company focuses on delivering essential health coverage solutions, including personal accident insurance, major and minor medical expenses, and comprehensive total coverage. By operating as an insurance broker, Sincero collaborates with insurers to create transparent and accessible health insurance products specifically designed for the middle class. This approach enables customers to efficiently manage their health insurance needs through a streamlined digital platform, ensuring quality healthcare options are readily available.

Vexi

Seed Round in 2021
Vexi is a financial technology company based in Mexico City, founded in 2016. It specializes in providing credit card services aimed at the young, underbanked population in Latin America, facilitating access to formal credit. Through its mobile application, Vexi enables users to create personalized payment plans, manage their expenses, and build their credit history with minimal documentation. The company offers both a digital credit card for online transactions and a physical card for in-person purchases, all designed to enhance user experience and financial literacy. Vexi's proprietary technology aims to streamline the onboarding process, making credit more accessible and secure for underserved individuals.

Levo

Convertible Note in 2021
Levo provides a regulated treasury management platform designed to enhance savings returns without the need for users to switch banks. The platform offers intelligent cash management services, including a collective savings system that allows users to save at competitive rates without minimum deposit requirements. By optimizing idle cash, Levo enables users to implement customized investment strategies and effective cash management techniques. This approach aims to improve working capital efficiency for individuals and businesses alike.

Yana

Seed Round in 2021
Yana is a Chatbot (Automated Conversational Agent) that helps people who have -or are prone to- depression or anxiety, through strategies based on Cognitive-Behavioral Therapy. It presents the most useful and practical therapy tools in a friendly, simple and intelligent way to help them manage their emotional states, any day at any time. Also, if necessary, Yana can channel people with crisis hotlines or mental health professionals to begin a therapeutic process, immediately.

Zenda.la

Seed Round in 2021
Zenda.la is an insurance platform aimed at urban Millennials and Gen Z, providing customized insurance solutions that are simple and transparent. The platform adapts to individual lifestyles and budgets, allowing users to scale their coverage as needed. By streamlining the purchasing process and ensuring clarity about the various plans available, Zenda.la empowers users to make informed decisions. The company focuses on offering protection against diverse risks, enabling individuals and businesses to receive compensation in the event of accidents or illnesses.

Kushki

Series B in 2021
Kushki is a payment platform specifically designed for the Latin American market, enabling seamless integration and local pricing strategies. Founded in New York City in 2016 by entrepreneurs Aron Schwarzkopf and Sebastian Castro, Kushki connects various payment methods across the region, including credit and debit cards, bank transfers, and cash networks, utilizing over 300,000 physical payment points. The platform offers a comprehensive suite of solutions for e-commerce, mobile commerce, and physical retail, featuring services such as a payment box, recurring payments, smart links, and tokenization. By standardizing the fragmented payment landscape, Kushki enhances operational efficiency, reduces costs, and provides businesses with greater control and transparency in managing their digital payment processes. The company operates in multiple countries, including Brazil, Chile, Colombia, Ecuador, Mexico, Peru, the USA, and Canada.

Kushki

Series B in 2021
Kushki is a payment platform specifically designed for the Latin American market, enabling seamless integration and local pricing strategies. Founded in New York City in 2016 by entrepreneurs Aron Schwarzkopf and Sebastian Castro, Kushki connects various payment methods across the region, including credit and debit cards, bank transfers, and cash networks, utilizing over 300,000 physical payment points. The platform offers a comprehensive suite of solutions for e-commerce, mobile commerce, and physical retail, featuring services such as a payment box, recurring payments, smart links, and tokenization. By standardizing the fragmented payment landscape, Kushki enhances operational efficiency, reduces costs, and provides businesses with greater control and transparency in managing their digital payment processes. The company operates in multiple countries, including Brazil, Chile, Colombia, Ecuador, Mexico, Peru, the USA, and Canada.

HelloGuru

Pre Seed Round in 2021
HelloGuru is an online university dedicated to empowering individuals with the skills to create software solutions without needing coding expertise. By focusing on the use of No-Code tools, HelloGuru bridges the gap between those who possess software development skills and those who do not. The platform offers a no-code software tool that enables non-technical users to build scalable and secure internal tools. This tool allows users to construct complex workflows, automate processes, and connect databases, making it accessible for anyone to develop software applications. Through its educational resources, HelloGuru aims to democratize software creation and enhance productivity for a broader audience.

Nuvocargo

Series A in 2021
Nuvocargo, Inc. is a freight forwarding and customs brokerage firm specializing in cross-border logistics between the United States and Mexico. Founded in 2017 and headquartered in New York, the company offers a range of services including customs broking, freight forwarding, and cargo insurance. Nuvocargo utilizes a cloud-based dashboard that provides customers with real-time visibility into their shipments, including tracking for cargo status, customs clearance, and necessary documentation. By leveraging advanced technology and extensive industry experience, Nuvocargo aims to enhance supply chain transparency and efficiency for businesses moving goods across the Americas.

Riogrande

Seed Round in 2021
Developer of an e-commerce platform designed to acquire, build, and scale online brands and optimize and integrate operations. The company's platform helps to build the next generation of online brands by collaborating with e-commerce entrepreneurs to grow and strengthen brands, enabling businesses with greater economies of scale and higher targets.

Prometeo

Seed Round in 2021
Prometeo is a fintech marketplace that specializes in developing an open banking platform to facilitate communication with financial institutions. Established in 2018 and headquartered in Mexico City, Prometeo offers standardized application programming interfaces (APIs), educational tools, and money transfer applications. The platform leverages PSD2 regulations and open banking principles to enable users to access banking information and initiate payments. By providing these services, Prometeo aims to help users gain insights into their financial behavior and enhance their money management skills.

Yana

Seed Round in 2020
Yana is a Chatbot (Automated Conversational Agent) that helps people who have -or are prone to- depression or anxiety, through strategies based on Cognitive-Behavioral Therapy. It presents the most useful and practical therapy tools in a friendly, simple and intelligent way to help them manage their emotional states, any day at any time. Also, if necessary, Yana can channel people with crisis hotlines or mental health professionals to begin a therapeutic process, immediately.

Heru

Pre Seed Round in 2020
Heru builds the a community of gig-economy workers and have a suite of services that help improve their way of life and general well-being. The company's mission is to improve the conditions of independent workers by building, through technology, services, and benefits according to their needs and lifestyle.

Listopro

Seed Round in 2020
Listopro helps companies hire vetted sales talents faster, while training candidates and actually increasing their likelihood of getting a job. They do this through a digital platform that connects the best vetted candidates with companies. Only the top 5% of candidates are sent to companies, indeed all are vetted within the platform.

Plerk

Seed Round in 2020
Plerk is a company that enhances employee satisfaction and productivity by offering flexible perks and benefits. Established in 2019 and based in Guadalajara, Mexico, Plerk operates an online platform that simplifies the booking and management of business trips. The platform allows organizations to set travel policies and track expenditures, while simultaneously encouraging employees to make cost-effective travel decisions. By focusing on improving workplace happiness, Plerk aims to boost productivity by 80% and increase employee retention by 50%.

Guros

Seed Round in 2020
Guros is a digital insurance marketplace based in Mexico that aims to transform the insurance experience for consumers and financial technology platforms. Founded in 2013, the company allows users to compare and purchase vehicle insurance policies online, addressing the significant gap in auto insurance coverage in Mexico, where a large percentage of drivers remain uninsured despite legal requirements. Guros seeks to democratize access to insurance in Latin America by providing a simpler and more efficient way for both end-customers and neobanks to integrate insurance offerings into their services. The company has plans to expand its platform to include a wider range of insurance products and to enter other Latin American markets in the future.

Prometeo

Seed Round in 2020
Prometeo is a fintech marketplace that specializes in developing an open banking platform to facilitate communication with financial institutions. Established in 2018 and headquartered in Mexico City, Prometeo offers standardized application programming interfaces (APIs), educational tools, and money transfer applications. The platform leverages PSD2 regulations and open banking principles to enable users to access banking information and initiate payments. By providing these services, Prometeo aims to help users gain insights into their financial behavior and enhance their money management skills.

Nuvocargo

Seed Round in 2020
Nuvocargo, Inc. is a freight forwarding and customs brokerage firm specializing in cross-border logistics between the United States and Mexico. Founded in 2017 and headquartered in New York, the company offers a range of services including customs broking, freight forwarding, and cargo insurance. Nuvocargo utilizes a cloud-based dashboard that provides customers with real-time visibility into their shipments, including tracking for cargo status, customs clearance, and necessary documentation. By leveraging advanced technology and extensive industry experience, Nuvocargo aims to enhance supply chain transparency and efficiency for businesses moving goods across the Americas.

Rampa.io

Acquisition in 2020
Rampa.io is a startup accelerator.

Kushki

Series A in 2020
Kushki is a payment platform specifically designed for the Latin American market, enabling seamless integration and local pricing strategies. Founded in New York City in 2016 by entrepreneurs Aron Schwarzkopf and Sebastian Castro, Kushki connects various payment methods across the region, including credit and debit cards, bank transfers, and cash networks, utilizing over 300,000 physical payment points. The platform offers a comprehensive suite of solutions for e-commerce, mobile commerce, and physical retail, featuring services such as a payment box, recurring payments, smart links, and tokenization. By standardizing the fragmented payment landscape, Kushki enhances operational efficiency, reduces costs, and provides businesses with greater control and transparency in managing their digital payment processes. The company operates in multiple countries, including Brazil, Chile, Colombia, Ecuador, Mexico, Peru, the USA, and Canada.

Billpocket

Venture Round in 2019
Billpocket is a financial technology company that transforms smartphones and tablets into point-of-sale terminals, facilitating card payments without the need for traditional banking infrastructures. Users can accept debit and credit card payments directly through their mobile devices, simplifying the payment process and eliminating high maintenance fees and complex setups associated with conventional systems. Billpocket's platform also offers the option for customers to convert payments into interest-free monthly installments, while the company charges a fixed commission to sellers. This innovative approach enables a seamless transaction experience for both businesses and consumers.

DataPlor

Seed Round in 2019
DataPlor Inc. is a company that specializes in collecting and providing business location data and market research, particularly focusing on micro businesses in emerging markets. Utilizing a combination of human expertise and technology, DataPlor verifies small business records to ensure high-quality intelligence. The company was incorporated in 2016 and has its headquarters in Los Angeles, California, with additional offices in Mexico City and São Paulo. Formerly known as Chapa, Inc., the company rebranded to DataPlor in June 2019, reflecting its commitment to enhancing the success of businesses operating in emerging markets.

Truora

Seed Round in 2018
Truora, Inc. operates an online platform specializing in background checks and identity theft detection. Founded in 2018 and headquartered in San Francisco, California, with additional offices in Colombia, Mexico, and Brazil, the company utilizes advanced technologies such as optical character recognition (OCR) for digital onboarding, real-time face recognition for user validation, and identity management to streamline the Know Your Customer (KYC) process. Truora's platform can handle over 10,000 checks per hour, offering fast and innovative solutions tailored to the needs of various clients, including national and international retailers, banks, human resource firms, and marketplaces. By leveraging its technical and analytical expertise, Truora ensures a high-quality service experience for its clients' risk management and digital teams.

Kushki

Series A in 2018
Kushki is a payment platform specifically designed for the Latin American market, enabling seamless integration and local pricing strategies. Founded in New York City in 2016 by entrepreneurs Aron Schwarzkopf and Sebastian Castro, Kushki connects various payment methods across the region, including credit and debit cards, bank transfers, and cash networks, utilizing over 300,000 physical payment points. The platform offers a comprehensive suite of solutions for e-commerce, mobile commerce, and physical retail, featuring services such as a payment box, recurring payments, smart links, and tokenization. By standardizing the fragmented payment landscape, Kushki enhances operational efficiency, reduces costs, and provides businesses with greater control and transparency in managing their digital payment processes. The company operates in multiple countries, including Brazil, Chile, Colombia, Ecuador, Mexico, Peru, the USA, and Canada.

QVO

Pre Seed Round in 2018
QVO SpA operates an online payment solutions in Ecuador, Colombia, Mexico, Peru, US, Canada, and Chile. The company was founded in 2016 and is based in Santiago, Chile. As of August 6, 2019, QVO SpA operates as a subsidiary of KUSHKI S.A.

Bexi

Seed Round in 2018
Bexi, Inc. is a company that specializes in providing design and marketing solutions through an online platform tailored for marketing teams. Founded in August 2016 by Rafael Arroyo and Cuco Vega, Bexi operates from both Guadalajara, Mexico, and San Leandro, California. The platform offers a wide range of services, including the creation of banners, digital advertisements, landing pages, emails, white papers, infographics, and various marketing materials such as booth graphics, table tents, posters, and data sheets. Bexi's focus is on delivering an unlimited, smart, and autonomous design experience to enhance marketing efforts.

Hackers/Founders

Seed Round in 2018
Hackers/Founders is a venture capital firm and accelerator based in San Jose, California, founded in 2011. The firm specializes in various stages of investment, including seed, early to mid venture, and emerging growth, focusing primarily on the technology sector. It invests in companies located in Mexico, the San Jose area, and Silicon Valley, typically seeking minority stakes in these businesses. In addition to direct investments, Hackers/Founders engages in secondary investing, acquiring interests in both portfolio companies and limited partners. The firm also operates the H/F Co-op program, which supports startup founders through coaching in product development and pitch preparation, ultimately assisting them in their fundraising efforts. By fostering vibrant tech ecosystems and sharing insights from Silicon Valley, Hackers/Founders aims to empower technology entrepreneurs.

albo

Seed Round in 2018
albo is a leading challenger bank in Mexico that provides a mobile banking platform designed to simplify money management. It offers users a banking account and a Mastercard, facilitating easy spending, saving, and investment. The account can be opened in just 60 seconds through a mobile device, allowing access to personalized financial tools that support informed decision-making. Additionally, albo enables free money transfers to any bank around the clock. Its application features real-time tracking of monetary movements, categorized expenses, and income reports, helping clients gain a clearer understanding of their financial activities while accessing innovative banking functions.

Jooycar

Seed Round in 2016
Jooycar is the fastest growing car telematics company and Insurecth in Latam and recently open operation in the US. We are the first company in Chile to have more than 30K connected cars and more than 100MM km processed, we are the first LatAm telematics company to have connected vehicles in Chile, Peru, Brazil Mexico and the US. The first telematics company to successfully operate a personal lines (first pay-per-mile program in Latinamerica) and commercial lines at the same time. Fleetr Commercial Lines (US) www.fleetr.com

ReStudio

Seed Round in 2014
ReStudio S.A., founded in 2006 and based in Santiago, Chile, specializes in the research, development, and provision of dimensional information technology solutions for the mining, energy, and public works sectors. The company enhances the design, construction, and maintenance of industrial and public works projects through its services, which include Point Cloud Baseline, as-built documentation, dimensional control, condition monitoring, and project presentation. ReStudio also offers tailored solutions for industrial plants and tunnel management, focusing on optimizing construction processes and reducing operational risks. Its innovative platform aims to accurately document the as-built state, facilitating planning and minimizing disruptions during expansion and modernization efforts.
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