The Inter-American Development Bank’s (IADB) innovation arm IDB Lab invested $1.5 million in Mexican fintech startup Aviva, which uses AI-powered kiosks to bring financial services to underserved communities across the country, according to as stated by the organization.
Founded in 2022, Aviva targets people living in cities with fewer than 500,000 inhabitants where formal banking remains limited. This marks IDB Lab’s first venture debt operation in Latin America and positions the institution as a potential future equity shareholder. The investment reinforces IDB Lab’s commitment to supporting high-growth companies that scale social impact. It also highlights efforts to strengthen Mexico’s entrepreneurial ecosystem through innovative financing solutions.
Aviva offers loans up to $1,000 through a paperless, seven-minute process that breaks away from traditional credit applications. The company’s kiosks use machine learning, computer vision, and natural language processing to turn conversations into creditworthiness data in real time. Instead of requiring employment records or bank statements, Aviva asks customers to share their personal stories. This approach addresses persistent barriers to financial inclusion in markets where conventional banks often don’t operate. The technology transforms these narratives into tangible value for premium financial products.
“We recognized how Aviva’s innovative phygital approach directly addresses persistent barriers to financial inclusion in underserved markets,” said Magdalena Coronel, acting Chief of IDB Lab’s Venture Capital Investments Division. She noted that Aviva has gained strong growth and market traction recently, making it an ideal partner for scalable solutions. “At Aviva, we ask customers to share their stories instead of imposing rigid requirements,” explained Filiberto Castro, Co-CEO and Founder. The company believes customer stories matter and uses latest technology to turn them into financial opportunities. This human-centered approach sets Aviva apart from traditional lending models.
The convertible venture financing will help Aviva scale its loan portfolio and expand into additional underserved Mexican regions. Currently operating more than 70 kiosks, the company expects to reach 150 locations by year’s end. Aviva has already raised over $16 million in equity, showing strong investor confidence in its model and market potential. With IDB Lab’s backing, the startup aims to serve a 70 million person market across Mexico. The investment demonstrates significant growth opportunities in previously overlooked financial service segments.
