YoFio
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YoFio - overview
Established
2019
Location
Ciudad de Mexico, -, Mexico
Primary Industry
Financial Services
About
Based in Mexico City, Mexico, and founded in 2019, Fresh Lending SAPI de CV develops YoFio, a mobile fintech application. As of 2021, Yofio is operable in 300 stores with over 6000 users and has processed over 50,000 transactions. The company’s app is downloadable on Android. In February 2024, YoFio raised seed funding led by investor Oikocredit, with participation from other investors 500 Global, Innogen Capital Ventures, and G2 Momentum Capital.
The company’s product is Yofio, a mobile application used to grant microcredits to customers to buy in ‘corner stores’ for food and other groceries. The app allows the customers to lend and pay back in thirty days. The user is required to create an account on the app and scan the QR code in affiliated shops. The loan amount starts at MXN 350 to MXN 1,850.
Yofio also offers shopkeepers, a platform to increase sales by enabling them to register their stores and earn MXN 100 for each client. The company generates revenue through a membership model that charges a weekly price of MXN 30. Yofio does not charge interest. Yofio plans to use the February 2024 seed funding to support the financing of small businesses in Mexico.
Current Investors
Enlaces, G2 Momentum Capital, Oikocredit
Primary Industry
Financial Services
Sub Industries
e-Financial
Website
www.yofio.co
Verticals
FinTech, Mobile Apps
Company Stage
Angel & Seed
Total Amount Raised
Subscriber access only
YoFio - employee data
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