Why We Invested in Trébol
Thrilled to announce our investment in Trébol (YC W22)!
At Better Tomorrow Ventures, we think there is a massive opportunity to transform business verification in Latin America.
While banks and lenders can verify a consumer's identity with a few pieces of information, allowing customers to open new financial products almost instantly, the same cannot be said for businesses. In this region, the process can take weeks, and businesses are often asked for physical paper statements, leading to cumbersome and time-consuming processes.
Trébol has developed a solution that automates business identity verification and underwriting decisions seamlessly. Their infrastructure is changing how banks, lenders, and insurers onboard business customers by automating the traditional pen-and-paper process. With Trebol’s technology, banks and lenders can quickly access must-have data from reliable sources such as formation documents, tax records, proof of address, and more to onboard a business safely. This eliminates friction, making it easier for businesses to access financial services and products that are essential for growth.
With Trébol, we’re excited to be backing Luis Sebastian Buitrago León and Fabian Torres. Fabian is all too familiar with this problem as a former financial industry executive and entrepreneur, having spent several years at AlphaCredit. Before launching the company, Luis and Fabian spoke to several banks and a common problem surfaced was the need to quickly and safely onboard businesses. When we met Fabian and Luis, we were immediately impressed by their commitment and dedication to building a solution that will truly help businesses operate and grow.
Trébol has already automated the verification of more than 8,000 businesses for banks, lenders, and expense management platforms in Mexico and Colombia, enabling business owners to get approved for new bank accounts and credit cards in minutes, not weeks. If you are a bank, lender, or insurer in Mexico and Colombia, and you think there is room to improve your KYB process, get in touch!
Great to join up with Jared Newman at Canaan and several others in this exciting journey.
