LatAm FinTech Solvento gains $50m to improve trucking payment software

LatAm FinTech Solvento gains $50m to improve trucking payment software

Solvento, has secured a significant $50m debt facility from Lendable, as it launches its automated invoice auditing solution.

This achievement is coupled with an oversubscribed equity round, prominently led by Quona Capital. The funding round saw active participation from notable investors like Dynamo Ventures, Ironspring Ventures, Proeza Ventures, and Zenda VC.

Marking a new chapter, Solvento unveiled Solvento Audita, an AI-driven software crafted to revolutionize the accounts payable process within the on-the-road freight industry. The company is at the forefront of developing robust payment and credit infrastructure for the LatAm trucking sector, effectively benefiting all stakeholders in the supply chain.

Solvento’s innovative approach automates payments, finances invoices, and addresses liquidity needs of carriers, thus empowering them to focus on their operational growth. The new funding is a gateway to offering quick pay solutions for shippers and brokers, injecting essential working capital into the supply chain, which is a boon for carriers and truckers.

Jaime Tabachnik, Co-Founder & CEO of Solvento, shared insights into the impact of their technology, “The trucking industry is at the heart of the Latin American economy, yet we have not treated it as such or given it the resources necessary for success.

“We are helping shippers, third-party logistics companies and carriers to save huge amounts of time and money by automating the most complex and time-consuming parts of their business, while contributing to higher levels of financial inclusion. 53% of customers report an increase in quality of life, while 29% report an increase in their money earned since using our solution. Our technology will continue to unlock the flow of money in the logistics industry as we continue building our vision to become the de facto payment platform for truckers in Mexico and Cross Border trucking.”

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