Solvento Secures $53.5M Funding for AI-Powered Trucking Solutions and Financial Inclusion
Solvento, a Latin American fintech company revolutionizing payment and credit infrastructure for the trucking sector, has successfully closed a $50M debt facility from Lendable and raised an oversubscribed $3.5M seed extension led by Quona Capital. This news coincides with the launch of Solvento Audita, an innovative AI-powered software streamlining the accounts payable process for the on-the-road freight industry.
The funding, backed by investors such as Dynamo Ventures, Ironspring Ventures, Proeza Ventures, and Zenda VC, aims to propel Solvento’s mission of creating a comprehensive payment and credit infrastructure for the Latin American trucking sector. Solvento’s focus is on automating payments, financing invoices, and addressing liquidity needs for carriers, ultimately enhancing operational efficiency and supporting growth.
Solvento Audita, the newly launched software, utilizes AI to automate end-to-end accounts payable processes, offering a transformative solution for the trucking industry’s supply chain and freight dynamics. The platform enables quick pay options for shippers and brokers, injecting working capital into the supply chain to benefit carriers and truckers. This not only facilitates faster payments to drivers but also addresses the ongoing driver capacity deficit in the industry.
Iñaki Garcia, Head of LatAm Investments at Lendable, expressed confidence in Solvento’s transformative approach, stating, “Solvento’s take on the transportation industry is creating a line of capital and credit infrastructure that the region doesn’t see often. We’re proud to help facilitate this move into a more inclusive and diverse financial state.”
Rafa de la Guia, Partner at Quona Capital, highlighted the underserved nature of the trucking industry in Mexico and Latin America, emphasizing the opportunities for specialized companies like Solvento. The funding provides Solvento with the resources to execute ambitious growth plans and further contribute to financial inclusion in the region.
Jaime Tabachnik, Co-Founder & CEO of Solvento, emphasized the transformative impact of their technology on the trucking industry, contributing to higher levels of financial inclusion and efficiency. Solvento Audita’s use of APIs and AI enables seamless integration into existing software, offering a groundbreaking solution for digitizing and validating complex freight documentation.
The new funding will fuel the continued development of Solvento’s products, with a focus on expanding commercial efforts to meet the growing demands of the $200 billion Latin American trucking market. Solvento’s vision extends to becoming the de facto payment platform for truckers in Mexico and cross-border trucking, contributing to the evolution of the region’s logistics industry.