YoFio, a fintech company dedicated to supporting Mexican microbusinesses, has secured a million investment to further its mission. The company is focused on reaching a break-even point this year and expanding its services nationwide.
By leveraging technology, YoFio aims to address the challenges that small merchants face in obtaining formal credit. CEO Alberto Bonetti Frías expressed excitement about the partnership with Oikocredit, which shares their vision and values, ultimately amplifying their impact.
The platform offers digital access to loans through its website and mobile app, providing credit lines ranging from MXN 7,000 to 200,000. Additionally, YoFio allows for interest-free payments to suppliers for up to 14 days. Currently serving over 2,700 businesses, YoFio targets those in the Valley of Mexico, Puebla, and Guadalajara, requiring at least a year of operations and verifiable income.
As micro to medium enterprises strive for growth, fintech solutions like YoFio become essential in granting access to funds, technology, and resources. These tools position businesses for a competitive advantage in the market, supporting their expansion and success.
