May 18, 2023 — SAP SE (NYSE: SAP) today launched the 2023 program focused on innovation in financial technology (FinTech) at SAP.iO Foundry Latin America and Caribbean. The 10 startups have been selected by a jury of SAP experts, partners, customers, and investment funds to join the program, with 90% of the startups led by underrepresented individuals.
2021 was a breakout year for venture capital deals in Latin America, with a total of $16.3 billion invested in startups – more than the previous five years combined. FinTech and financial services account for around 39 percent of this total investment. To address this demand, the SAP.iO program is designed for startups with innovative B2B FinTech solutions such as digital wallets, open banking, banking-as-a-service, and ‘Buy now, pay later’ (BNPL).
During the 5-month program, the selected startups will work to build and develop long-term partnerships with SAP by defining joint use cases, product integration and various business development opportunities. SAP customers will also be involved in the program by evaluating opportunities for proof of concepts.
The following startups are participating in the SAP.iO Foundry Latin America and Caribbean 2023 program:
- Agrotoken creates a secure and frictionless ecosystem to make trading grains easier, more efficient and more reliable based on asset tokenization.
- Bankuish simplifies access to personalized loans for gig workers and freelancers by translating their work into a language that financial systems can understand.
- CryptoMate explores and launch Web3 digital transformation through simple APIs.
- Jelou AI enables financial services via WhatsApp using AI.
- Kanoo Pays is a digital wallet that allows users to make secure payments and transfer money from their mobile devices.
- MetaMap eliminates manual and repetitive identity verification tasks for B2C FinTechs, helping them to onboard and verify new users.
- Slice reimagines the financial orchestration by collecting data from multiple sources and structuring a data lake at a comprehensive ledger.
- Synaptic is an open finance solution that automates capturing, processing and delivering data.
- Toku Spa offers a simplified payment system that collects debts, reduces late payment and improves the fidelity of customers.
- Wispok allows users to create QR codes, encrypted graphics, and payment links that are unique to each person and lead to a checkout where users can see the amount due for each payment.
SAP.iO curates a relevant and diverse startup ecosystem that extends the value of SAP solutions and meets the continuously evolving needs of our customers. Our programs provide dedicated support to the most promising startups as they launch and scale relationships with SAP and our global network of customers, partners, and employees. Since 2017, we have connected thousands of SAP customers with innovative enterprise software startups, helping them find solutions to their unique needs. For more information, visit http://sap.io/.