# Grupago

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/grupago

- Industry: Financial Services
- Headquarters: Mexico City, Mexico
- Website: www.grupago.mx
- Total disclosed funding: $4.3M
- Latest round: Seed (Mar 12, 2024)
- Investors on record: 4

## About

Based in Mexico, and founded in 2023, Local Mercado Comunidad, SA de CV, doing business as Grupago operates as a digital loans to small businesses in Latin America. The company use fancy computer technology, groups of people promising to pay back loans together, and reaching out to local communities to help businesses get the money people need. In March 2024, Grupago raised USD 4.3 million in seed funding led by Deciens Capital, with participation from Precursor Ventures, Clocktower Technology Ventures and Twine Ventures.

Grupago is a digital microcredit platform designed for small enterprises in Latin America. The company uses artificial intelligence, group endorsement, and community distribution to provide low-cost finance to entrepreneurs who are typically excluded from traditional loan institutions. Grupago assesses and underwrites small loans using artificial intelligence, as well as nontraditional data sources. The company hires online community leaders to organize lending groups in local communities, allowing them to reach clients in remote or otherwise inaccessible places.

The company plans to use the March 2024 funding to develop its technology and expand its operations.

## Funding rounds

- Seed, Mar 12, 2024, $4.3M — Deciens, Precursor Ventures, Clocktower Technology Ventures, Twine Ventures

## Investors

- Deciens (https://capitalatlas.ai/funds/deciens) — Seed
- Precursor Ventures (https://capitalatlas.ai/funds/precursor-ventures) — Seed
- Clocktower Technology Ventures (https://capitalatlas.ai/funds/clocktower-technology-ventures) — Seed
- Twine Ventures (https://capitalatlas.ai/funds/twine-ventures) — Seed