Graviti, a buy now pay later (BNPL) platform focused on unbanked in LatAm, has reportedly scored a $2.5m seed round.
Active Capital acted as the lead investor, with commitments also coming from Mucker Capital and Clocktower Technology Ventures, according to a report from Crunchbase. A number of angel investors also contributed to the round.
This funding burst will help the company to release a selection of new features during 2021, this will include support for buying washing machines, dryers and refrigerators. Capital will also be used to support its lending capacity.
Graviti co-founder and CEO Yusef Jacobs told Crunchbase News, “We have a specific focus to help more than 100 million households have access to appliances, like water heaters and washing machines.
“The true problem is the financial gap — they cannot afford to pay up front for these purchases, and because they are unbanked, have no access to loans. On the other side, big and small merchants can’t access this market.”
Mexico-based Graviti, which was founded in 2019, offers the unbanked in Latin America with the ability to pay for basic appliances over a period of time.
With the close of the round, the company has raised a total of $3m in funding.
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