Migrante raises $30 million

Migrante, a Chilean startup targeting immigrants, has raised $30 million in Series A funding.  The round was led by Kayyak Ventures and included individual investors like Creditas’ Sergio Furio, Betterfly’s Eduardo della Magiora and Affirm’s Huey Lin. Migrante also secured $80 million in debt.

Founded in 2018, the startup combines lending and goods. It offers immigrants access to products that can improve their income such as motorcycles, cars and trucks while providing access to credit. Migrante also helps with securing insurance, offering auto and motorcycle insurance, as well as personal accident insurance which is provided by Bci Seguros.

The startup ended 2021 with 15,000 active clients and it plans to expand its services to Columbia and Peru.