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Contxto – Colombian fintech Avista has been busy currently.
First, it raised a debt financing spherical for US$75 million. The names of the 4 collaborating monetary establishments weren’t disclosed.
Then, Avista acqui-hired Medellín-based IdeasLab, a product and software program improvement agency, for an unspecified quantity.
In an announcement, the startup clarified that will probably be focusing its efforts (and funds) in direction of its payroll loaning platform. Credit score traces shall be allotted notably in direction of aged folks in rural and low-income cities in Colombia.
Avista and fintech options for the aged
Conventional banks have already got fairly the fame of ignoring many members of society. From the millennial with no credit score historical past, to small companies, they’re typically snubbed by banks.
However there’s one other market that’s not addressed sufficiently, particularly in Latin America: the aged.
Why it’s an enormous deal: There are an countless variety of fintechs geared toward millennials. Nevertheless tech options particularly designed for senior residents are uncommon within the business.
And the aged characterize a major a part of the market within the area that isn’t being tendered to. After all, that comes with the problem of guiding these new customers into understanding how a tech product works.
Is it simple? No, in any other case there’d be floods of startups speeding to get grandma on board with their app.
However that’s a part of the problem: discovering the appropriate strategy to those customers who’re “new” to tech.
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