Galgo (ex-Migrante)
Galgo is the first digital bank for immigrants across LatAm, promoting financial inclusion. The company provides financial products that are suited to their customers needs, including consumer and vehicle loans, insurance products, home rental guarantees, remittances, among others.
Investment Thesis
There are more than 4.5M Venezuelan migrants across LatAm. Migrants mostly make up a larger proportion of working-age persons compared to the national population; many of them are successful entrepreneurs, skilled savers, have built assets as well as extensive social networks; however, most of this happens outside the formal financial systems. Migrante promotes financial inclusion by becoming the regional bank for immigrants in LatAm, with a particular focus on Venezuelan migrants.
