Reported 1 day ago
Solvento, a Mexico City-based platform for automating freight payments and financing invoices for truckers, has raised $12.5 million in Series A funding led by Cometa Capital. The funds will help expand its services across Mexico and into the U.S. market, addressing long-standing liquidity issues faced by the trucking sector, dominated by small to medium-sized enterprises. Solvento aims to increase its active carrier base from 500 to 5,000 by 2025 and has already facilitated over $180 million in loans to trucking companies, projecting significant growth in annual recurring revenue.
Source: YAHOO