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December 11, 2023

Revolutionizing Latin America's Trucking Industry, Solvento's $53.5M Boost

Two trailblazing companies, Einride and Tevva, are the forefront of a transformative journey with the newest technology

The trucking industry in Latin America is on the brink of transformation, and Solvento is taking the wheel with groundbreaking technology. In a recent funding announcement, Solvento secured a $50M debt facility from Lendable, coupled with a $3.5M seed extension led by Quona Capital, signaling a pivotal moment for the fintech company focused on the trucking sector.

Solvento's latest move coincides with the launch of Solvento Audita, an AI-powered software designed to streamline the end-to-end accounts payable process for on-the-road freight. More than just a fintech solution, Solvento is shaping the payment and credit infrastructure for Latin America's trucking sector, delivering benefits across the entire supply chain.

Solvento Audita automates payments, finances invoices, and addresses liquidity needs, allowing carriers to concentrate on operations and growth. With the new lending facility, quick pay becomes a reality for shippers and brokers, injecting crucial working capital into the supply chain. This, in turn, accelerates payments to drivers, addressing the ongoing challenge of driver capacity deficits.

Solvento's vision aligns with a more inclusive and diverse financial landscape. Iñaki Garcia, Head of LatAm Investments at Lendable, expresses confidence in Solvento's approach, emphasizing the potential for a more economically just and environmentally sustainable world.

Solvento Audita, powered by AI, integrates seamlessly into existing software, revolutionizing the traditionally manual process of document validation. It enables companies to digitize proof of delivery (POD) documents, ensuring correct invoicing and payment validation. Notable companies like Nestlé and 99 minutos have already experienced remarkable efficiency gains through Solvento's auditing software.

"Our technology will continue to unlock the flow of money in the logistics industry as we continue building our vision to become the de facto payment platform for truckers in Mexico and Cross Border trucking," says Jaime Tabachnik, Co-Founder & CEO of Solvento.

Solvento Audita isn't just about financial operations; it's about optimizing accounts payable processes, enhancing fraud detection, and contributing to risk management. Alexis Patjane, CEO at 99 minutos, attests to the software's efficiency gains, reducing a 15-day manual process to just a few hours through AI-powered automation.

With $53.5M in funding, Solvento is poised to further develop its product and expand commercial efforts. The aim is clear: meet the growing needs of the $200 billion Latin American trucking market and continue reshaping the future of freight logistics.

Josefina Dipaolo
Josefina Dipaolo
Content writer at TechNews180
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