VARIV

VARIV is a venture capital firm based in Mexico City, specializing in investments in early-stage technology companies, particularly within the fintech sector. Established in 2007, the firm focuses on Spanish-speaking markets, with a strong preference for opportunities in Mexico and across Latin America. VARIV aims to support innovative startups that are poised for growth in the rapidly evolving technology landscape.

Jorge Carvallo

Managing Director

Rafael de Haro

Managing Partner and Co-Founder

Patrick Menendez

Principal

Ernesto Vargas Rivero

Co-Founder and Managing 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.

Prometeo

Seed Round in 2022
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.

Kueski

Series C in 2021
Kueski, S.A.P.I. De C.V. Sofom E.N.R. is an online lending platform based in Guadalajara, Mexico, founded in 2012. Catering primarily to the middle class in Mexico and Latin America, Kueski offers a range of financial services, including personal credit, student loans, and savings options. The platform leverages big data and advanced analytics to facilitate quick loan approvals, often within minutes, making it a convenient choice for borrowers who require immediate financial assistance. With a paperless application process available 24/7, Kueski has rapidly established itself as a leading provider of online lending services in the region, having granted thousands of loans to date.

SkydropX

Series A in 2021
Skydropx, Inc. is a logistics marketplace based in Mexico that connects businesses with independent local distributors and shipping providers for efficient product delivery. The company offers a platform that manages and regulates shipments, consolidating volume to provide discounted rates. Its technology integrates seamlessly with users' shopping carts through API, allowing for real-time tracking and management of shipments. By utilizing a network of independent drivers, Skydropx enables companies to send and receive parcels in a streamlined manner, enhancing the overall delivery process.

Quinio

Seed Round in 2021
Provider of brand acquisition and development services intended to grow and expand brand value. The company acquires and builds exceptional e-commerce brands with quality products through search engine optimization, portfolio administration, marketing, logistics, finance, and operations management services and provides development services, working capital, and operational efficiencies, enabling clients to list and sell products and generate profits.

Guros

Seed Round in 2021
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.

Kueski

Series B in 2019
Kueski, S.A.P.I. De C.V. Sofom E.N.R. is an online lending platform based in Guadalajara, Mexico, founded in 2012. Catering primarily to the middle class in Mexico and Latin America, Kueski offers a range of financial services, including personal credit, student loans, and savings options. The platform leverages big data and advanced analytics to facilitate quick loan approvals, often within minutes, making it a convenient choice for borrowers who require immediate financial assistance. With a paperless application process available 24/7, Kueski has rapidly established itself as a leading provider of online lending services in the region, having granted thousands of loans to date.

Conekta

Series B in 2019
Conekta is a developer of an online payment platform that enhances the security and efficiency of banking processes for financial institutions. The platform leverages artificial intelligence to integrate application programming interfaces, facilitating the processing of both online and offline payments. It enables financial institutions to analyze transaction behavior, helping to identify and mitigate fraudulent activities. Additionally, Conekta's services are PCI-DSS certified, ensuring that banking and financial information is encrypted and protected, which allows businesses to accept payments through various methods, including cards, cash, and bank transfers, in a straightforward and secure manner.

Yotepresto

Seed Round in 2019
Yotepresto is a rapidly expanding marketplace lending platform based in Mexico that links individual and institutional investors with near-prime borrowers seeking personal loans. The platform specializes in providing unsecured personal installment loans and utilizes a proprietary scoring model to assess risk and establish interest rates for each borrower. By facilitating connections between borrowers and investors, Yotepresto enables clients to crowdfund their loans, streamlining the lending process and broadening access to financing options.

BEWE (formerly miora)

Series A in 2018
Founded in 2016 and launched in five countries — Spain, Mexico, Colombia, Peru and Chile — BEWE operates a SaaS platform for beauty & wellness centers.

SkydropX

Funding Round in 2018
Skydropx, Inc. is a logistics marketplace based in Mexico that connects businesses with independent local distributors and shipping providers for efficient product delivery. The company offers a platform that manages and regulates shipments, consolidating volume to provide discounted rates. Its technology integrates seamlessly with users' shopping carts through API, allowing for real-time tracking and management of shipments. By utilizing a network of independent drivers, Skydropx enables companies to send and receive parcels in a streamlined manner, enhancing the overall delivery process.

GAIA

Series B in 2018
GAIA operates a prominent e-commerce platform for furniture in Mexico, providing a diverse selection of high-quality products that includes sofas, chairs, drawers, dressers, bureaus, tables, desks, rugs, lamps, textiles, paintings, and various accessories. The company showcases a range of styles, from contemporary to traditional, artisan, industrial, and retro, catering to a wide array of consumer preferences. By offering well-crafted home furnishing products at affordable prices, GAIA aims to enhance the shopping experience for customers seeking to furnish their spaces.

Aliada

Series A in 2017
Aliada is a marketplace for finding a trusted cleaning professional and improving the working conditions of the domestic service industry. With Aliada, in under one minute, you will be matched with a reference-checked, and quality assured cleaning professional who will leave you a happy and clean home. Aliada makes your life easier, at the same time it helps Mexican women build a better life for themselves. At an affordable price and without contracts or hidden fees, customers will receive a trusted highly rated aliada. For their cleaning professionals, becoming an aliada can be a life changing opportunity. All of their aliadas receive medical insurance, economic incentives, and educational opportunities for their professional and personal advancement. At aliada, their mission is to impact over 2 million domestic workers who work in sub-optimal conditions. They believe that by investing in women who are committed to their own advancement and that of their families, They can do their part to contribute to a better Mexican society.

Neumarket

Seed Round in 2017
Neumarket is an online tire retailer based in Bogotá, Colombia, that serves customers in Colombia and Mexico. Founded in 2012 by Jeane Ortiz Ágreda and Juan David Gutiérrez, the company specializes in a wide selection of tires for vehicles including cars, SUVs, motorcycles, and trucks. Neumarket's platform allows customers to purchase tires from various international brands, along with rims and wheels, all through a single online store. In addition to its retail services, the company provides advisory support from tire experts via chat, email, or phone, assisting customers in selecting the right products. Once purchased, tires can be delivered to local tire shops for installation, enhancing the convenience of the shopping experience.

Conekta

Series A in 2016
Conekta is a developer of an online payment platform that enhances the security and efficiency of banking processes for financial institutions. The platform leverages artificial intelligence to integrate application programming interfaces, facilitating the processing of both online and offline payments. It enables financial institutions to analyze transaction behavior, helping to identify and mitigate fraudulent activities. Additionally, Conekta's services are PCI-DSS certified, ensuring that banking and financial information is encrypted and protected, which allows businesses to accept payments through various methods, including cards, cash, and bank transfers, in a straightforward and secure manner.

Bitso

Series A in 2016
Bitso SAPI de CV is a prominent online trading platform based in Mexico City, founded in 2014, that facilitates the buying and selling of Bitcoin and other cryptocurrencies. As Mexico's first Bitcoin exchange, Bitso allows users to trade Bitcoin with the Mexican Peso, providing a secure and professional environment for cryptocurrency transactions. Users can fund their accounts through various options, including in-person deposits at designated locations across Mexico. The platform operates with a central limit order book, similar to traditional currency exchanges, ensuring efficient trade execution. Additionally, Bitso offers an API that enables third-party applications, such as trading and charting tools, to integrate with its platform, along with a dedicated mobile application for seamless trading activities.

Kueski

Series A in 2016
Kueski, S.A.P.I. De C.V. Sofom E.N.R. is an online lending platform based in Guadalajara, Mexico, founded in 2012. Catering primarily to the middle class in Mexico and Latin America, Kueski offers a range of financial services, including personal credit, student loans, and savings options. The platform leverages big data and advanced analytics to facilitate quick loan approvals, often within minutes, making it a convenient choice for borrowers who require immediate financial assistance. With a paperless application process available 24/7, Kueski has rapidly established itself as a leading provider of online lending services in the region, having granted thousands of loans to date.

iVOY

Seed Round in 2016
iVoy is a digital delivery logistics platform based in Mexico that offers real-time monitoring of deliveries within 90 minutes, catering to both business enterprises and individual users. Established in 2011, iVoy initially operated offline but has since transitioned to online services, leveraging technology through an app and web platform to streamline logistics in densely populated areas like Mexico City and Guadalajara. The company employs a crowdsourcing model, utilizing a network of over 250 motorcyclists who serve as micro-entrepreneurs, thereby generating job opportunities and supporting vulnerable social groups. iVoy aims to revolutionize local deliveries by incorporating GPS technology for real-time tracking, which enhances customer satisfaction and trust. The platform is designed for e-commerce businesses needing same-day delivery solutions, as well as individuals requiring quick collection or dispatch of items. With plans for rapid national and international expansion, iVoy is poised to grow its impact in the logistics sector.

GAIA

Series A in 2016
GAIA operates a prominent e-commerce platform for furniture in Mexico, providing a diverse selection of high-quality products that includes sofas, chairs, drawers, dressers, bureaus, tables, desks, rugs, lamps, textiles, paintings, and various accessories. The company showcases a range of styles, from contemporary to traditional, artisan, industrial, and retro, catering to a wide array of consumer preferences. By offering well-crafted home furnishing products at affordable prices, GAIA aims to enhance the shopping experience for customers seeking to furnish their spaces.

OSOM

Seed Round in 2015
Ösom is a platform with your fashion destination online in Mexico. There you will find the most complete selection of clothes, shoes, sports and accessories with the best tips to inspire and create your ideal look. At Ösom every day new products are launched and a lot of offers so you always find what you are looking for. Ösom works under the mentality that the way you dress is one of the best ways to express yourself. For this, they give themselves the task of finding the best products around the world,

Miora

Venture Round in 2015
Online platform for beauty services.

BEWE (formerly miora)

Venture Round in 2015
Founded in 2016 and launched in five countries — Spain, Mexico, Colombia, Peru and Chile — BEWE operates a SaaS platform for beauty & wellness centers.

ComproPago

Seed Round in 2015
ComproPago is a platform that allows online businesses to receive cash payments. Due to the low debit and credit card penetration in Mexico (30%) plus the lack of confidence when buying online via credit card, the e-commerce industry in Mexico is in search of alternative solutions to tackle this issue. ComproPago solves this problem by providing more than 130,000 physical payments points (Oxxo, 7eleven, Walmart, Superama, etc.) across the whole country, where customers can make cash payments to pay for products and services bought online.

Aliada

Seed Round in 2015
Aliada is a marketplace for finding a trusted cleaning professional and improving the working conditions of the domestic service industry. With Aliada, in under one minute, you will be matched with a reference-checked, and quality assured cleaning professional who will leave you a happy and clean home. Aliada makes your life easier, at the same time it helps Mexican women build a better life for themselves. At an affordable price and without contracts or hidden fees, customers will receive a trusted highly rated aliada. For their cleaning professionals, becoming an aliada can be a life changing opportunity. All of their aliadas receive medical insurance, economic incentives, and educational opportunities for their professional and personal advancement. At aliada, their mission is to impact over 2 million domestic workers who work in sub-optimal conditions. They believe that by investing in women who are committed to their own advancement and that of their families, They can do their part to contribute to a better Mexican society.

Conekta

Seed Round in 2015
Conekta is a developer of an online payment platform that enhances the security and efficiency of banking processes for financial institutions. The platform leverages artificial intelligence to integrate application programming interfaces, facilitating the processing of both online and offline payments. It enables financial institutions to analyze transaction behavior, helping to identify and mitigate fraudulent activities. Additionally, Conekta's services are PCI-DSS certified, ensuring that banking and financial information is encrypted and protected, which allows businesses to accept payments through various methods, including cards, cash, and bank transfers, in a straightforward and secure manner.

iVOY

Pre Seed Round in 2015
iVoy is a digital delivery logistics platform based in Mexico that offers real-time monitoring of deliveries within 90 minutes, catering to both business enterprises and individual users. Established in 2011, iVoy initially operated offline but has since transitioned to online services, leveraging technology through an app and web platform to streamline logistics in densely populated areas like Mexico City and Guadalajara. The company employs a crowdsourcing model, utilizing a network of over 250 motorcyclists who serve as micro-entrepreneurs, thereby generating job opportunities and supporting vulnerable social groups. iVoy aims to revolutionize local deliveries by incorporating GPS technology for real-time tracking, which enhances customer satisfaction and trust. The platform is designed for e-commerce businesses needing same-day delivery solutions, as well as individuals requiring quick collection or dispatch of items. With plans for rapid national and international expansion, iVoy is poised to grow its impact in the logistics sector.

InstaFit

Seed Round in 2014
InstaFit is an online fitness startup based in Mexico City, co-founded by Oswaldo Trava and Natalia Amaya. The company aims to make home workouts engaging and accessible by providing on-demand audio and video fitness classes led by professional trainers. Its platform features a wide range of workout options, including yoga, functional training, and treadmill workouts, with new content added weekly and available for offline access. InstaFit offers these services at a fraction of the cost of traditional gyms, targeting obesity—a significant health issue in the region. Since its launch in late 2016, the app has gained a substantial user base, reaching 37 countries, and has earned a 4.4-star rating. It has been recognized as the top health and fitness app in 15 countries and was named one of Apple's best apps of 2016. The company employs innovative technology and marketing strategies to thrive in the rapidly growing online fitness market in Latin America.

FancyBox

Angel Round in 2013
Fancybox is an online retailer specializing in cosmetics and accessories, operating as a subscription-based service that allows female consumers to receive monthly beauty boxes containing cosmetic samples. Founded in May 2012, the company is recognized as a leading beauty e-commerce platform in Latin America, with a presence in Argentina, Chile, Colombia, and Mexico. Fancybox offers a comprehensive online store featuring over 6,000 products from more than 175 well-known brands, providing customers with the opportunity to discover and test new beauty products before making a purchase. The brand emphasizes staying informed about the latest trends and must-have items in the beauty industry. Each country's operations are supported by local celebrity co-founders who serve as brand ambassadors, enhancing the brand's appeal and connection with consumers.

Outlet de Viajes

Seed Round in 2013
Outlet de Viajes is one of the leading e-commerce companies in Mexico, aimed to provide online buyers a unique shopping experience with exclusive deals and special offers from different online shops.
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