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Contxto – Chilean fintech Fintual is taking its first steps into its enlargement in the direction of Mexico. In line with a latest press launch, this startup from Santiago is partnering with Invermerica, an funding fund supervisor from Mexico.
The fintech itself permits customers to put money into mutual funds.
Associated article: Argentine fintech Ualá permits customers to make investments in mutual fund with new characteristic
A fintech with mutual funds and quirky names
Pedro Pineda, Agustín Feuerhake, Omar Larré, and Andrés Marinkovic based the startup in 2016. Two years later, in 2018, it joined Y Combinator’s well-known accelerator program.
By way of the fintech, traders (particularly first-time ones) could make slightly more cash by placing their hard-earned money into mutual funds. Funding belongings embrace inventory in corporations like Amazon and Google, in addition to authorities bonds.
Fintual at present has over US$57 million beneath administration and greater than 8,000 customers inside its native Chile.
The startup is supervised by the Monetary Market Fee (CMF) in Chile.
As a closing tidbit of maybe ineffective, however quirky information…
Two days after the 92nd Version of the Academy Awards, it’s amusing to see the names the fintech has for its funds. From the least to highest threat stage, these funds are christened:
- Conservative Streep
- Conservative Clooney
- Reasonable Pitt
- Dangerous Norris
Associated article: All 58 Latin American startups from Y Combinator
Saddle up, associate
This partnership might play a twin position for the fintech.
For one, it provides the startup an insider’s perspective on the Mexican market. As well as, it additionally hyperlinks it to a monetary establishment that already has the great blessings of the nation’s Nationwide Banking and Securities Fee (CNBV).
However, it’s not the primary time we see a fintech cozy up with an funding fund supervisor. In Argentina, Ualá had already accomplished so with the aim of increasing the record of companies it gives final November.
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