About Covalto
Covalto is a company based in Miguel Hidalgo (Mexico) founded in 2015 by David Poritz and Allan Apoj Pascal.. Covalto has completed 2 acquisitions, including Banco Finterra and Visor. Covalto offers products and services including Crédito Pyme, Inversión, Cuenta para Negocios, Crédito Refaccionario, and Arrendamiento.
- Headquarter Miguel Hidalgo, Mexico
- Founders David Poritz, Allan Apoj Pascal
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Sectors
Financial Services
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Email
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Phone
*********
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Website
*********
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Social
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- Legal Name Banco Covalto S.A.
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Annual Revenue
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Net Profit
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EBITDA
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Latest Funding Round
$90.43 M (USD), Debt – Conventional
Oct 26, 2022
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Investors
DFC
& 2 more
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Employee Count
Employee Count
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Investments & Acquisitions
Banco Finterra
& 1 more
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Products & Services of Covalto
Covalto offers a comprehensive portfolio of products and services, including Crédito Pyme, Inversión, Cuenta para Negocios, Crédito Refaccionario, and Arrendamiento. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Loans for small businesses to support operational growth.
Tools for growing money through various investment options.
Accounts designed for business financial management.
Credits for equipment or property refinancing needs.
Leasing options for assets like equipment.
Funding Insights of Covalto
- Total Funding Total Funding
- Total Rounds 3
- Last Round Debt – Conventional — $90.4M
- First Round First Round
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Oct, 2022 | Amount | Debt – Conventional - Covalto | Valuation |
investors |
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| Oct, 2022 | Amount | Debt – Conventional - Covalto | Valuation |
investors |
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| Jun, 2016 | Amount | Seed - Covalto | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Covalto
Covalto has secured backing from 3 investors, including institutional and venture fund investors. Prominent investors backing the company include DFC, FIRA and Elevar Equity. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Government agency supporting the development of SMEs
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Founded Year | Domain | Location | |
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Investing in early growth for inclusive businesses in education, healthcare, and e-commerce.
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Founded Year | Domain | Location | |
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Covalto
Covalto has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Banco Finterra and Visor. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Credit products are aggregated for small and medium-sized businesses.
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2015 | ||||
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Commercial banking services are provided in Mexico.
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2013 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - Covalto
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Covalto Comparisons
Competitors of Covalto
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Covalto
Frequently Asked Questions about Covalto
When was Covalto founded?
Covalto was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is Covalto located?
Covalto is headquartered in Miguel Hidalgo, Mexico. It is registered at Miguel Hidalgo, Ciudad De Mexico, Mexico.
Who is the current CEO of Covalto?
David Poritz is the current CEO of Covalto. They have also founded this company.
What does Covalto do?
Founded in 2015 in Miguel Hidalgo, Mexico, Covalto operates in the fintech sector, focusing on small and medium-sized enterprises. A range of digital banking solutions is offered, including multi-product credit options, core banking services, and business analytics tools. Additional support is provided through digital tax management, e-invoicing, and financial data underwriting to serve SMEs efficiently at scale.
What products or services does Covalto offer?
Covalto offers Crédito Pyme, Inversión, Cuenta para Negocios, Crédito Refaccionario, and Arrendamiento.
How many acquisitions has Covalto made?
Covalto has made 2 acquisitions, including Banco Finterra, and Visor.
Who are Covalto's investors?
Covalto has 3 investors. Key investors include DFC, FIRA, and Elevar Equity.
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