Mozper, the debit card and application designed for children and parents in Latin America, announces the closing of a $3.55 million seed round, led by Hetz Ventures with participation from F-Prime Capital, Foundation Capital, Secocha Ventures and former investors Dux Capital and John Farrell.
The new round of investment will allow the startup to consolidate its presence in the Mexican market, where it was launched three months ago and expand to Brazil in 2021, in addition to enriching the product and scaling the organization.
This latest round raises the company’s total financing to 5.1 million dollars and comes a few months after the announcement of a 1.6 million dollar Pre-Seed round led by DUX Capital and angel investor John Farrell, among others, including YCombinator, where Mozper was part of the “Summer 2020” generation.
“We believe that the Latin American market is a blue ocean for Fintech innovation,” said Pavel Livshiz, partner at Hetz Ventures. “We were very impressed by Gabriel, Yael and Pablo’s ability to quickly execute their vision to bankrupt Latin America’s digital-first generation in an early and impressive way.
Founders Pablo Klestorny, Yael Israel and Gabriel Roizner began building Mozper in January 2020 and announced, in a joint press conference with Visa, its launch in Mexico in August 2020 with a closed beta test involving 500 families, through which the startup quickly showed signs of being an attractive product for the Mexican market.
After the beta test, more than 90% of the families that participated continue to use the application , now it is available to the general public having a constant growth of 20% week after week.