Solvento has raised USD 12.5 million Series A funding to scale its software and financial solutions through Mexico and expand its solutions to US companies. Following this announcement, Solvento aims to leverage the funding round in order to scale its software and financial services throughout the region of Mexico, as well as expand its tools to US companies entering the cross-border market.

By offering immediate and secure payment solutions, Solvento expects to grow its customer base and develop new products. In addition, the company will continue to focus on meeting the needs, preferences, and demands of customers and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well. More information on Solveto’s USD 12.5 million Series A funding round Solveto’s platform was developed in order to automate freight payments and finances invoices for truckers and third-party logistics (3PL) providers.

It also enables immediate payments for shippers and keeps their cash flow positive as they scale their businesses. According to the official press release, in the region of Mexico, financial markets are dominated by a few very large players that do not meet the overall needs of specific regions and industries. At the same time, multiple companies in the country do not have the interest or the overall distribution muscle to serve an industry as fragmented and particular as the trucking industry.

This sector is dominated by over 95% of SMEs and struggles with liquidity issues that hinder their ability to meet rising demands or expectations. Solvento aims to provide its technology and expertise in order to optimise supply chains and cross-border operations, while also enhancing the region’s logistics efficiency. The investment round was led by Cometa, including Quona Capital, Ironspring Ventures, Dynamo Ventures, Proeza Ventures, Zenda Capital, as well as Endeavor Fwd Fund.

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