Mexican Fintech YoFio Raises $10M Seed for Digital Micro-Lending

On February 26, 2024, Oikocredit announced it led a $10 million equity-and-debt seed funding round for YoFio, a Mexican fintech focused on digital lending for micro-entrepreneurs. YoFio operates as an embedded finance alternative to traditional banking, providing credit access to small business owners who are typically underserved by conventional financial institutions. The combined equity-and-debt structure is designed to support both platform growth and lending capital.

Oikocredit, a social impact investor, led the round as part of its mission to fund inclusive finance in emerging markets. The capital will be used to expand YoFio's digital lending platform across Mexico. The deal reflects continued investor interest in LATAM embedded lending and financial inclusion, even amid a global fintech funding slowdown that saw total investment drop from $196.6 billion in 2022 to $113.7 billion in 2023.