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Credit Fintech PasanaQ raised US$180K to launch its mobile platform in Bolivia

August 8, 2022
Por
PasanaQ Newsroom
PasanaQ Newsroom
News and communications of PasanaQ
📷
Gordon Institute
PasanaQ, the first Bolivian fintech that digitizes informal rotating savings and credits associations (ROSCA) - better known as Pasanakus, in Bolivia – while offering users financial and commercial benefits, completed its first pre-seed round of investment.
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With the participation of US funds and Latin American Angel investors, PasanaQ raised US$180,000.  

“We completed our first round of pre-seed capital with great success, closing an investment of approximately US$180,000, which will allow us to launch our mobile platform in Bolivia and to start operations in Peru, to later expand to the other countries in the Latin American region. To achieve our first objective, we had the support of Sovereign's Capital and Pareto Holdings, two VC funds from the US. Together with both funds, Rosanna Ramos, President of Caja los Andes in Peru and President of the Wharton School Executive Board for Latin America, as well as Angel Investors from Bolivia, Mexico, Paraguay, and Peru bet on the digitalization of informal savings clubs (ROSCA) and also invested in PasanaQ” commented Diego Rojas, CEO of PasanaQ.  

The team of nine people, composed by Diego Rojas, who is doing an MBA with a full scholarship at the University of Oxford, Yara Lewensztain who leads operations from Santa Cruz, and Jhonny Ventiades as CTO, among others, has reached milestones such as being part of the fourth batch of startups accelerated by Solydes (the best Bolivian accelerator) and be chosen among more than 80 startups from all over Bolivia for this acceleration process. In the coming months, PasanaQ will seek to expand its IT and retail team, as well as start building a team in Peru.  

PasanaQ’s mobile app launched this week in Bolivia and will be released in the coming months in Peru. The app allows users to manage their ROSCA groups - known as informal savings clubs or pasanakus - while accessing extra benefits such as discounts and credit purchases with retailers.  

“We have identified that 8% of Latinos save through informal savings clubs (ROSCA). It is a huge number of people who are yet not included in the financial system. Through PasanaQ, they will be able to have access to more and better financial services”, concluded Rojas.  

About PasanaQ  

PasanaQ was founded on July 29, 2020 in Bolivia. In October 2021, they launched a beta version of the mobile app and reached 1,300 users. The new version of its application was launched this month and plans to reach out to more than 15,000 users, in a first phase.  

   The investors  

   ● Sovereign’s Capital, USA.  

   ● Pareto Holdings, USA.  

   ● Rosanna Ramos, presidente de Caja Los Andes, Perú.  

   ● Horacio Vera Loza, Head R&D Delizia, Bolivia.  

   ● Emmanuel Palma, Jefe de Terminal Ferroviaria Oriental, Bolivia.  

   ● Fabián Padilla (Bolivia), Santiago Diaz (Bolivia), Paula Heisecke (Paraguay), Paula Gutierrez (Bolivia), Sandra Sánchez (México), Javier Torres (Perú), Maria Jose Fernandez (Perú) and Martin Prieto (Bolivia)  

Bio of Diego Rojas: CEO PASANAQ  

Diego Rojas is from Chuquisaca, Bolivia. Diego studied a Bs in Mechatronics Engineering from the Bolivian Catholic University with a full scholarship. He studied a master's degree in renewable energies as a Fulbright scholar in the United States and worked in Bolivia, Peru, the United States and Italy. He is also the founder and CEO of Tu Beca Bolivia, an NGO that seeks to provide greater scholarship opportunities to young Bolivians. He is currently pursuing a double master's degree (Public Policy and Business Administration) at the University of Oxford as the first Pershing Square Bolivian Scholar.  

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

With the participation of US funds and Latin American Angel investors, PasanaQ raised US$180,000.  

“We completed our first round of pre-seed capital with great success, closing an investment of approximately US$180,000, which will allow us to launch our mobile platform in Bolivia and to start operations in Peru, to later expand to the other countries in the Latin American region. To achieve our first objective, we had the support of Sovereign's Capital and Pareto Holdings, two VC funds from the US. Together with both funds, Rosanna Ramos, President of Caja los Andes in Peru and President of the Wharton School Executive Board for Latin America, as well as Angel Investors from Bolivia, Mexico, Paraguay, and Peru bet on the digitalization of informal savings clubs (ROSCA) and also invested in PasanaQ” commented Diego Rojas, CEO of PasanaQ.  

The team of nine people, composed by Diego Rojas, who is doing an MBA with a full scholarship at the University of Oxford, Yara Lewensztain who leads operations from Santa Cruz, and Jhonny Ventiades as CTO, among others, has reached milestones such as being part of the fourth batch of startups accelerated by Solydes (the best Bolivian accelerator) and be chosen among more than 80 startups from all over Bolivia for this acceleration process. In the coming months, PasanaQ will seek to expand its IT and retail team, as well as start building a team in Peru.  

PasanaQ’s mobile app launched this week in Bolivia and will be released in the coming months in Peru. The app allows users to manage their ROSCA groups - known as informal savings clubs or pasanakus - while accessing extra benefits such as discounts and credit purchases with retailers.  

“We have identified that 8% of Latinos save through informal savings clubs (ROSCA). It is a huge number of people who are yet not included in the financial system. Through PasanaQ, they will be able to have access to more and better financial services”, concluded Rojas.  

About PasanaQ  

PasanaQ was founded on July 29, 2020 in Bolivia. In October 2021, they launched a beta version of the mobile app and reached 1,300 users. The new version of its application was launched this month and plans to reach out to more than 15,000 users, in a first phase.  

   The investors  

   ● Sovereign’s Capital, USA.  

   ● Pareto Holdings, USA.  

   ● Rosanna Ramos, presidente de Caja Los Andes, Perú.  

   ● Horacio Vera Loza, Head R&D Delizia, Bolivia.  

   ● Emmanuel Palma, Jefe de Terminal Ferroviaria Oriental, Bolivia.  

   ● Fabián Padilla (Bolivia), Santiago Diaz (Bolivia), Paula Heisecke (Paraguay), Paula Gutierrez (Bolivia), Sandra Sánchez (México), Javier Torres (Perú), Maria Jose Fernandez (Perú) and Martin Prieto (Bolivia)  

Bio of Diego Rojas: CEO PASANAQ  

Diego Rojas is from Chuquisaca, Bolivia. Diego studied a Bs in Mechatronics Engineering from the Bolivian Catholic University with a full scholarship. He studied a master's degree in renewable energies as a Fulbright scholar in the United States and worked in Bolivia, Peru, the United States and Italy. He is also the founder and CEO of Tu Beca Bolivia, an NGO that seeks to provide greater scholarship opportunities to young Bolivians. He is currently pursuing a double master's degree (Public Policy and Business Administration) at the University of Oxford as the first Pershing Square Bolivian Scholar.  

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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