{"id":20775,"date":"2019-04-03T19:47:08","date_gmt":"2019-04-03T19:47:08","guid":{"rendered":"https:\/\/www.lavca.org\/accion-invests-in-digital-information-payments-platform-civico\/"},"modified":"2019-04-03T19:47:08","modified_gmt":"2019-04-03T19:47:08","slug":"accion-invests-in-digital-information-payments-platform-civico","status":"publish","type":"post","link":"https:\/\/www.lavca.org\/accion-invests-in-digital-information-payments-platform-civico\/","title":{"rendered":"Accion Invests in Digital Information & Payments Platform C\u00cdVICO"},"content":{"rendered":"\n

Accion made an undisclosed investment in C\u00cdVICO<\/strong>, a digital information and payments platform for micro\/small businesses. C\u00cdVICO operates in Bogot\u00e1, Mexico City and Santiago de Chile.<\/em><\/p>\n\n\n\n

(Press Release<\/a>) Bogot\u00e1, Colombia, April 3, 2019 \u2014 Global nonprofit Accion announced today an investment in Latin American digital platform C\u00cdVICO. The funds will help C\u00cdVICO invest in technology and analytics, expand its merchant network, and develop its suite of financial services.<\/p>\n\n\n\n

C\u00cdVICO is a digital platform that enables access to information and services to improve the quality of life of individuals in Latin America. The company provides micro, small, and medium enterprises (MSMEs) in Bogot\u00e1, Colombia; Mexico City, Mexico; and Santiago, Chile with a platform to connect with local customers as well as business information and payment services. C\u00cdVICO also provides a strong value proposition to its merchants with electronic payments, e-commerce, business education in digital marketing techniques, coupons and loyalty programs, as well as better bookkeeping techniques. Today, C\u00cdVICO has more than 600,000 registered merchants and helps serve more than 4 million consumers.<\/p>\n\n\n\n

\u201cWe\u2019re excited to bring on Accion as our newest partner. With its decades of experience supporting financial services innovation in Latin America and around the world, we know Accion\u2019s investment and advisory support will be critical as we scale our services and reach in the region,\u201d said Ricardo Pombo, CEO and Co-founder of C\u00cdVICO.<\/p>\n\n\n\n

“Latin American entrepreneurs often lack access to formal financial services and adequate business training. Through its simple, digital platform, C\u00cdVICO is closing this gap and helping small businesses thrive,” said Michael Schlein, President and CEO of Accion. \u201cAccion is excited to bring our global expertise to C\u00cdVICO\u2019s experienced management team and help leverage its innovative technology platform to scale financial services in the region,\u201d said Radhika Shroff, Deputy Chief Investment Officer of Accion Global Investments.<\/p>\n\n\n\n

As part of its merchant customer acquisition strategy, C\u00cdVICO uses an innovative crowdsourcing model to identify and confirm MSME information, including the business\u2019 names, contact information, hours, and services. This information, along with merchants\u2019 and users\u2019 data, helps C\u00cdVICO learn more about the MSMEs it serves, connect them with local customers, and develop deeper profiles that can be used to better understand community needs and ultimately provide entrepreneurs with tailored financial services. The company also partners with large financial service providers to help entrepreneurs access the electronic payment systems they need to accept credit and debit cards, allowing them to increase sales. <\/p>\n\n\n\n

In addition to financial support, Accion is providing advisory services to enable C\u00cdVICO to reach more clients throughout Colombia, Mexico, and Chile. The advisory services will support the company as it further develops its financial services distribution and enables more merchants to access quality digital services. <\/p>\n","protected":false},"excerpt":{"rendered":"

Accion made an undisclosed investment in C\u00cdVICO, a digital information and payments platform for micro\/small businesses. C\u00cdVICO operates in Bogot\u00e1, Mexico City and Santiago de Chile. (Press Release) Bogot\u00e1, Colombia, April 3, 2019 \u2014 Global nonprofit Accion announced today an investment in Latin American digital platform C\u00cdVICO. The funds will help C\u00cdVICO invest in technologyContinue reading “Accion Invests in Digital Information & Payments Platform C\u00cdVICO”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":5452,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[26],"tags":[],"acf":[],"yoast_head":"\nAccion Invests in Digital Information & Payments Platform C\u00cdVICO - LAVCA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.lavca.org\/accion-invests-in-digital-information-payments-platform-civico\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Accion Invests in Digital Information & Payments Platform C\u00cdVICO - LAVCA\" \/>\n<meta property=\"og:description\" content=\"Accion made an undisclosed investment in C\u00cdVICO, a digital information and payments platform for micro\/small businesses. C\u00cdVICO operates in Bogot\u00e1, Mexico City and Santiago de Chile. (Press Release) Bogot\u00e1, Colombia, April 3, 2019 \u2014 Global nonprofit Accion announced today an investment in Latin American digital platform C\u00cdVICO. 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