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Colombian fintech Finkargo, which supports MSMEs imports, obtained a US$75M credit facility

Finkargo, a startup founded a year ago in Bogota, dedicated to supporting operations and providing financing for micro, small and medium-sized enterprises (MSMEs) to trade internationally, announced that it has obtained a US$75 million structured loan from Community Investment Management (CIM). Finkargo says that financing is one of the barriers that most affects the internationalization of these types of companies. MSMEs face a foreign trade credit rejection rate of over 50%.

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Trully, a Mexico-based identity verification startup, raised US$4.1M

November 24, 2022

Trully, a platform focused on digital fraud prevention announced the raise of a US$4.1 million seed round led by Costanoa Ventures. In the region, customer identity verification remains the main challenge to reduce fraud in digital channels, as 44% of frauds carried out were related to this problem. Trully developed software to improve the authentication of KYC (Know Your Customer) systems and prevent identity theft and financial fraud through facial recognition using machine learning to obtain more accurate data.

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Social Commerce Struggles Due to Low Trust in Social Platforms

February 8, 2023

While retail media has been an unexpected success, its sort-of opposite, social commerce, has never met expectations.  This Simplicitydx survey explores why: the biggest problem is low trust in social platforms, which means people prefer to buy directly on brand sites.  Social shopping still has a role to play in product discovery, although social won’t always receive credit if the sale is completed elsewhere.

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