In Mexico, out of 1,200.000 registered micro, small and medium enterprises, 340,000 belong to women entrepreneurs. Entrepreneurship has become an icon of empowerment for women; however, sourcing capital invest is one of the main complications in consolidating their business projects.
For news about the most interesting fintech companies around the world, take a look at the Born2Invest app, which offers professionally curated business headlines. Prepared by an in-house team of journalists, Born2Invest covers a wide spectrum of topics, such as investing, economies and global markets, trending business news, as well as industry updates on tech, real estate, media, and personal finance.
Access to financing is key
One of the fundamental pieces of entrepreneurship is access to good financing. The first thought of 42% of women who want to open a business is to approach banking institutions, while the rest consider more informal options such as loans from family members or their own money. Both options can alienate investors by retaining complicated and unclear language, policies and conditions or demanding goals that are difficult to achieve.
After the emergence of the fintech companies, the range of possibilities for solving the development of projects has become wider, adapting better to the characteristics of the current entrepreneur attached to technology and its benefits, helping them to deal with the financial landscape they face.
Mexico’s women entrepreneurs
Mexican women entrepreneurs such as Blanca Estela Gomez, manager of Administration and Finance of Linkx Mexico, dedicated to providing services and technological solutions, and Leticia Gonzalez, in charge of the finance area of Paraffin Promoter and Marketer, a business dedicated to the sale of candles, are two examples of success through a financing platform.
Leading fintech platform in Latin America
Cumplo, is a leading fintech platform in Latin America, dedicated to bringing together companies seeking safe and easy investments with investors willing to support them. Security, confidence, and clarity when acquiring a loan are the characteristics most sought after by the entrepreneurs, premises that have ensured the financing of more than a thousand loans and promoted more than 11 thousand 84 investments equivalent to more than $19 million (MXN 400 million).
Broadly speaking, the financing process through a platform begins with the analysis of the project, once it is approved under a certain rate and term, it is published so that investors can evaluate it and lend money to the company.
Once the goal of the loan is reached, the money is handed over to the entrepreneur and when the entrepreneur finishes paying back the loan, the investor receives what he or she lent plus interest earnings.
Financing platforms – one of the most promising options for businesswomen
According to data from Cumplo, 99 out of every 100 Mexican businesswomen who apply for a loan settle it without delay or setback, which is encouraging for both sides of the business and makes financing platforms one of the most promising options for businesswomen and entrepreneurs.
Financing platforms, whose strategy is to help women entrepreneurs find their ideal credit through technology, transparency, simple language, and simple policies, seem to be gaining ground in the quest to democratize the financial system and displace banks as leaders in the sector.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in rotativo, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
Rental real estate seen as a safe haven in France
The crowdfunding platform My Korner Shop has an original model of crowdfunding, investing in rental real estate, in this case...
UN calls for the cancellation of $236 billion in African debt
In response to the pandemic and the economic "tsunami" affecting developing countries, The United Nations Conference on Trade and Development...
A sharp drop in Italy’s GDP can no longer be avoided
Confindustria’s forecasts showed that a sharp drop in Italy’s gross domestic product (GDP) is now inevitable. The estimates are based...
Genfit is adapting its activities in accordance to the coronavirus pandemic
Biotech companies worldwide are trying to find a vaccine to halt the coronavirus pandemic. The French Group Genfit announced that...
Blockchain technology can help the energy industry be more efficient
BlockApps has entered into a partnership agreement with the consulting firm Optimum to develop block solutions for tracking how energy...
- Featured7 days ago
Why should banks and FinTech operators ally?
- Crowdfunding7 days ago
Several organizations accept donations in cryptocurrencies to fight the pandemic
- Biotech7 days ago
Italian biotech companies entered the race to find a vaccine against COVID-19
- Africa7 days ago
COVID-19 and the violent fall in oil prices wreak havoc on Africa’s economies