Solvento Secures US$12.5 Million in Series A Funding Round

Solvento, a Mexican fintech innovator that focuses on the trucking industry, is on track to achieve profitability within the next 18 to 24 months following a US$12.5 million Series A funding round. 

With the backing of investors like Cometa, Quona Capital, Ironspring Ventures, and others, Solvento plans to expand its footprint in key industries such as food and beverage, metal manufacturing, automotive, pharma, and agriculture. The funds will also fuel the development of intelligence software, providing customers with anonymized rate data, seasonal trends, and more, along with expanding fintech offerings like asset credit for trucks and insurance products through strategic partnerships, says Solvento to Axios.

“We are transforming logistics finance and proving that anything is possible with the right team and mission,” Jaime Tabachnik, CEO, Solvento, shares on LinkedIn. The company has raised a total of US$22.5 million in equity and US$53 million in debt.

Nearshoring and potential tariffs under Donald Trump’s administration have been a game-changer for Solvento. “Trump will use tariffs as a tool to force China to negotiate. As pressure mounts, Asian companies will relocate to Mexico in higher numbers,” says Tabachnik. This shift is expected to significantly boost cross-border trade between Mexico and the United States, positioning Solvento to capture new market opportunities.

Solvento expects to surpass US$6 million in annualized revenue by the end of 2024, with a target of US$12 million in 2025 and US$24 million by 2026. The company has already provided US$180 million in cumulative loans to over 1,400 trucking companies, helping them manage payments and access credit. It processes US$150 million in annual payments, a figure expected to quintuple within two years, says the company.

“This milestone is a reflection of our commitment to empowering the trucking industry in Mexico and Latin America,” says Tabachnik.