Tienda Pago: Driving Financial Access for Small Retailers
On the fifth episode of VentureKast, Accion Venture Lab’s podcast series, our host Vikas Raj visited Dan Cohen, CEO and Founder of Tienda Pago, at Tienda Pago’s office in Hallandale Beach, Florida. Tienda Pago is a lender that uses a digital approach to extend short-term working capital to small retailers in Peru and Mexico to finance their inventory purchase. By partnering with major fast moving consumer good distributors, Tienda Pago finds a way to identify and acquire eligible customers and mitigate and manage credit risk.
Dan shares with Vikas how he established Tienda Pago by leveraging his experience in banking and consulting, working on electronic payments, as well as setting up a distribution channel in Latin America for one of the world’s largest mobile communications providers. Dan talks about the challenges of enterprise sales for a young startup and shares his perspective on how providing small credit can positively impact people’s lives.
The next episode of VentureKast, due to be released next month, will feature Mark Hookey of DemystData, which leverages big data for credit underwriting in order to reduce costs and enlarge borrower pools for lending institutions.