yofio

YoFio is a Mexican fintech company founded in 2019 that provides working capital credit solutions to micro and small businesses, particularly neighborhood corner stores known as tienditas. The company operates through a mobile application and web platform that offers credit lines ranging from 7,000 to 200,000 Mexican pesos to help merchants manage cash flow and purchase inventory. YoFio employs AI-powered machine vision technology to assess creditworthiness by analyzing photos and videos of stores and their inventory, creating a digital twin of physical establishments. This technology reduces the evaluation process from hours to approximately 15 minutes, eliminating the need for physical site visits. The platform enables merchants to access 14 days of interest-free financing to purchase inventory from both affiliated and unaffiliated wholesalers. Entrepreneurs can also access emergency cash subject to disbursement fees and interest. The company serves over 2,700 businesses across the Valley of Mexico, Puebla, and Guadalajara. YoFio secured $10 million in seed funding in February 2024 led by social investor Oikocredit, with participation from 500 Global, Innogen Capital, G2 FinTech, and Cauris Finance. The company was co-founded by Alberto Bonetti, Oscar Garavito, Robin Nuñez, and Victor Valdes. YoFio operates from its headquarters in Cuajimalpa, Mexico City, and has approximately 37-50 employees. The platform uses receipt scanning technology to track purchases at the SKU level and conducts re-evaluations every six weeks to adjust credit limits and interest rates based on repayment performance.