Bank aimed at women in Latin America closes seed round

Jefa, a digital bank aimed at women in Latin America, has reportedly closed its seed round on $2m.

Alongside the investment, the company has signed a multi-year strategic partnership with Visa, according to a report from TechCrunch. This agreement will enable Jefa to take advantage of Visa’s resources and products to build more payment products, it said.

The investment round was backed by The Venture Collective, partners of DST Global, Foundation Capital, Amador Holdings, The Fund, FINCA Ventures, Rarebreed VC, Siesta Ventures, Springbank Collective, Bridge Partners, Hustle Fund, Foundation Capital, Latitud, J20 and Magma Partners.

Several angel investors also committed capital to the round, including Daniel Bilbao and JP Duque.

The platform, which is yet to launch, will first roll out in Mexico, followed by Colombia and Central America.

Jefa will provide users with access to a savings account, loans, insurance, payments, and debit and credit cards.

Visa senior director of fintech partnerships for Latin America and the Caribbean Sonia Michaca said, “Visa believes in empowering women. Financial and digital inclusion transform economies. Women, who control the lion-share of everyday household spending, should be at the core of this transformation, yet women are vastly underserved by traditional banks.

“We are thrilled to be partnering with Jefa, a women-led platform in Latin America and the Caribbean, and one which explicitly serves women’s financial needs in the region.”

Last week, German angel investors Dr. Gesa Miczaika and Bettine Schmitz launched the Auxxo Female Catalyst Fund to support equitable representation of women as founders and investors in venture capital. The vehicle will back companies with at least one female founder.

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