9/1/2023 0 Comments Movist msmi![]() ![]() The credit lines are managed using the cell phone of both small retailers and delivery personnel. The small retailers can only use the credit line to buy inventory from the Fast Moving Consumer Goods companies (FMCGs) that TP has an agreement (eg Coca Cola, ABInBev, Pepsico, Gloria, Movistar) with. TP provides a short (1 week) small credit finance line (average of $450) to small retailers in the traditional channel. Tienda Pago operates today in Mexico and Peru. FMCGs also benefit from their own reduced collection costs and from the stores’ improved buying capacity. ![]() In addition to the benefits for store owners, Tienda Pago creates a powerful value proposition for FMCGs by leveraging its long-established relationship with the businesses to facilitate a connection. Oikocredit is firmly committed to adding value to Tienda Pago and strongly believes this landmark fintech investment will be a success, creating social impact and improving the lives of low income people,” said Sébastien Rigaud, responsible for Oikocredit’s investment. “We are confident in Tienda Pago’s ability to strengthen its operations in Mexico and Peru, while expanding in the region to support thousands of small shop owners. QED is very excited to see the team’s progress and to work with Tienda Pago to further grow the company,” said Mike Packer, Partner at QED Investors. “Tienda Pago plays a vital role in expanding credit access and decreasing the reliance on cash – two major themes in Latin American fintech. “We’ve worked closely with Tienda Pago since our seed investment in 2015, and have been impressed by management’s ability to achieve sustained growth, expand to a new market, and build a stellar team. We are thrilled to support them through this next stage,” said Vikas Raj, Managing Director of Accion Venture Lab, the seed-stage investment initiative of global nonprofit and financial inclusion leader Accion. “We are amazed by the terrific value proposition that Tienda Pago brings to both ends of its platform on the one hand, they allow small store owners to avoid critical inventory breakage and have extra capital to foster their growth and, on the other hand, they provide FMCGs the ease to operate in a clean cashless manner that warrants an efficient and continuous product supply in a nutshell, a virtuous cycle of more profitable sales for everyone,” said Hernan Kazah, Co-Founder and Managing Partner of Kaszek Ventures. Tienda Pago will use the new funds to reach more businesses in Mexico and Peru, and expand into the rest of Latin America. Today, the company works with more than 17,000 retailers to fund and broaden their inventories. Launched in 2013 by founders Dan Cohen and Gabriel Sternberg, Tienda Pago started lending operations in Peru in 2014 and expanded operations to Mexico in 2016. “With the support of our investors, Tienda Pago’s aim is to become the trusted ally that can take small businesses to the next level with access to financing.” “Tienda Pago wants to enable small stores not only to compete, but also to thrive, offering them fintech solutions based on a deeper understanding of their needs,” said Dan Cohen, founder and CEO of Tienda Pago. This arrangement provides underserved businesses with a creative, secure, and efficient way to expand their inventory and product variety, increase revenue and earnings, and build their credit history. The shop owner then re-pays Tienda Pago as they generate cash from selling the inventory. Tienda Pago has a unique model in which it partners with major fast-moving consumer goods (FMCGs) distributors that service these stores, paying the distributors directly for inventory purchases delivered to the small store client. Operating in Mexico and Peru, Tienda Pago is a lender that provides small store owners with very short-term working capital to fund inventory purchases through a mobile platform. Miami, USA – April 3, 2018– Latin American fintech startup Tienda Pago announced today the close of its $7.5 million Series A round led by Kaszek Ventures, with new investors QED Investors and Oikocredit, and follow-on contributions from existing investors Accion Venture Lab and Agrega Partners. ![]()
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