In Latin America, small businesses and micro-entrepreneurs face significant economic barriers. To combat issues of limited technological knowledge, fears about the process of launching an online store, and uncertainty when it comes to choosing the right platform, Mexico-based Canasta Rosa (Spanish for Pink Basket) is guiding small businesses to success. Spearheaded by CEO Deborah Dana, the startup has a clear purpose: To empower micro and small entrepreneurs to build and scale their businesses.
Founded in 2016, Kavak is the digital platform that’s making it easier than ever to buy and sell cars. The Mexico City-based founded startup recently achieved “unicorn” status after reaching a $1.15 billion valuation, the first tech company in the country to do so. As Kavak expands its operations to Argentina and sets sights on Brazil, we sit down with Vice President of Data Science, Anders Christiansen, to chat about how machine learning and AWS serverless services helped build the engine behind the company’s ever-improving workflow.
As some economies develop, small businesses that also develop and grow can sometimes be left out in the rain when searching for capital. Banks frequently look for collateral to be posted with loans, which can be difficult for smaller companies. This gap in offering is exactly where many startups are flourishing via assessing companies credit statuses through atypical methods or data, and providing financing to the previously underserved. Konfío, a fintech startup founded in 2013, does just that for micro-businesses throughout Latin America.