"We're going to start seeing two big waves of growth" in Mexican startups, said Eric Perez-Grovas, co-founder of venture capital fund Wollef, in an interview, adding an earlier slowdown in financing activity was starting to reverse.
Mexico's startups are looking to recover after a lackluster year, hit by rising inflation and high interest rates, dampened investment prospects.
"The economic outlook is really, really positive, inflation is coming down and employment is steady.
Nexu, an auto-financing startup, landed a $20-million investment round last month, adding onto $53 million it had previously raised.
Nexu's round was oversubscribed and had buy-in from foreign investors, however, showing market appetite is increasing, said Perez-Grovas.
Persons:
Edgard Garrido, Eric Perez, Melonn, Andres Felipe Archila, Perez, Grovas, Abdon Necif, Kylie Madry, Sarah Morland, Rod Nickel
Organizations:
REUTERS, MEXICO CITY, Mexico's, Wollef, Thomson
Locations:
MEXICO, Mexico, U.S