Colombian fintech Fronte raised an undisclosed pre-seed round led by Rally Cap VC and Bankless Ventures. Base Ecosystem Fund and angel investors also participated in the round.
Fronte is developing a financial platform that helps families living in different countries manage household expenses, coordinate payments, and build a shared financial history to access credit.
The platform tracks expenses such as utilities, groceries, education, healthcare, and rent. When payments are delayed, families can ask other contributors to cover expenses or switch payment methods.
With the funds Fronte will develop its platform and expand its team in Bogotá.
Fronte surveyed nearly 1,000 households receiving remittances and found that two thirds relied on contributions from at least two people, while 46% had been denied credit despite receiving regular financial support.
Source: LatamList
