As the nearshoring gains momentum, presenting opportunities and challenges for companies navigating the international trade landscape, Mexican fintech Mundi is keen on providing the financial infrastructure required for these companies to thrive in their new environment.
With the recent injection of $15 million in a Series A-2 investment round, led by the experienced fintech supporter, Haymaker Ventures, Mundi plans to consolidate its presence in Mexico and foster the growth of the companies it serves. It also plans to double the size of its clientele within the next year, a bold ambition considering it already provides financing exceeding $125 million.
Nearshoring, characterized by the relocation from one region (usually China) to another (Mexico), presents a wealth of opportunities for businesses seeking cost-effectiveness, but the lack of access to high-quality financial products has kept many SMEs from fully embracing this opportunity.
Mundi recognizes the critical role it can play in supporting this transition by providing essential financial infrastructure and services. Mundi helps companies eliminate entry barriers and offers a range of services underpinned by a singular technological platform, enabling businesses to establish commercial relationships with the United States and the rest of the world.
Additionally, Mundi has embarked on a rebranding journey with the aim of becoming Latin America's first fintech platform that simplifies international trade.
In the first quarter of 2023, Mexico witnessed notable growth in exports, recording more than USD$127 million compared to USD$118 million in the same period in 2022, according to data from INEGI.
These figures underscore the increasing importance of platforms like Mundi in facilitating and accelerating international trade and the crucial role it can play in shaping the future of Mexican foreign trade, particularly in the context of nearshoring.