Lima, PERU, July 10, 2023 - In line with its commitment to promote financial services in the region, Krealo, the Corporate Venture Capital (CVC) of Credicorp Group, announced the launch of the Future of Financial Services accelerator program, an initiative that seeks to identify and support the 10 most promising financial service-focused pre-seed startups in Peru, Colombia and Chile. The initiative will be carried out in collaboration with BCP's Centro de InnovaCXión and will be executed by Seedstars, an investment company with 10 years of experience in the implementation and execution of growth programs for early stage companies and whose mission is to impact the lives of people in emerging markets through technology and entrepreneurship.

Future of Financial Services is a robust three-month program, which will provide the selected startups with access to personalized international mentors, executive sessions with leaders from BCP's InnovaCXion Center. The selected startups will receive an investment of $50K and at the end of the program will have the opportunity to receive up to an additional $150K in investment.

“With Future of Financial Services we want to continue promoting the development of the financial service ecosystem in the region, given its importance in topics we deeply care about such as digitalization and financial inclusion. We invite all Peruvian, Colombian and Chilean startups to apply to this program that goes beyond financing," said Adolfo Vinatea, CEO of Krealo.

"Our goal together with Krealo is to support the consolidation of the financial service ecosystem in Colombia, Peru and Chile. We are on a mission to seek out the most innovative financial service startups and provide them with a unique set of skills and resources to achieve their next growth stage in such a rapidly evolving ecosystem," said Paula Garcia-Malpica, LATAM Regional Manager at Seedstars.

The program is targeted towards pre-seed startups that can demonstrate customer traction and revenue. These startups must be legally registered in either Peru, Colombia, or Chile, and either operate or plan to operate in these countries. The primary interest is in startups that are employing technologies like AI, Machine Learning, Blockchain, and Web3 in the context of financial services, and those that are formulating business models in the areas of Open Finance, including Open Banking, Open Data, or Embedded Finance.

Startups can apply to the program until August 31th, 2023 at https://seedsta.rs/krealo-futurefinancialservices.

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About Krealo (www.krealo.pe)

Krealo was created at the beginning of 2018 as the Corporate Venture Capital of Credicorp holding company (NYSE: BAP). Its purpose is to identify, evaluate and invest in fintechs or startups in the Andean region and that include financial services within their operations, which translates into a market of more than 100 million people between Peru, Chile and Colombia. With this, it seeks to create both strategic and financial value, with investments that complement Credicorp's current or future lines of business. Its portfolio includes the startups Culqi, Samishop and Wally in Peru, Tenpo in Chile, Monokera in Colombia and Tyba, which operates in Colombia, Chile and Peru.

About Seedstars (www.seedstars.com)

Seedstars is a Swiss-based company with a mission to impact people’s lives in emerging markets through technology and entrepreneurship. Seedstars works with the private and public sectors to implement entrepreneurial capacity-building programs in order to create jobs and fuel economic growth.

The group runs Seedstars Programs that are designed to support entrepreneurs in varying stages of growth via training, education, mentoring, and access to resources. The company also partners, operates, and invests in emerging venture capital funds in emerging markets and makes direct co- and follow-on investments in their portfolio companies through Seedstars Capital. To further support the next generation of changemakers, Seedstars Academy, a talent incubator, provides digital skills and startup-based immersive education.

Through these initiatives and partnerships, Seedstars is building a world-class community and network of changemakers in over 90 emerging ecosystems. For more information, visit https://www.seedstars.com

About Credicorp (www.grupocredicorp.com)

Leading financial services holding company in Peru with presence in Bolivia, Chile, Colombia, the United States and Panama. It has a diverse portfolio of services organized in four business lines: Universal Banking, through Banco de Crédito del Perú - BCP and Banco de Crédito de Bolivia; Microfinance, through Mibanco and Mibanco Colombia; Insurance and Pension Funds, through Grupo Pacifico and Prima AFP; and Investment Banking and Wealth Management, through Credicorp Capital, Gestión de Patrimonios del BCP and Atlantic Security Bank. Likewise, through Krealo, its Corporate Venture Capital, fintechs are created, invested in and managed in the region.

CONTACTS:

Program
Paula Garcia-Malpica
LATAM Regional Manager
[email protected]

Partnerships
Doris Clemenz
[email protected]

Media
Michaela Villaroman
Media Relations
[email protected]