The archive · Money & Fintech · Product decision · 2021–2024
Solvento bets truckers are bankable: $12.5M Series A, $180M in freight loans
Mexico City startup automates freight payments and finances trucking invoices; Cometa-led $12.5M Series A in Nov 2024, $180M+ lent to 1,400+ carriers
Solvento
What the business is
A Mexico City fintech that automates freight payment settlement for shippers, carriers and 3PLs and finances trucking invoices, replacing 60-day payment cycles and predatory lenders.
Starting capital：$12.5M Series A led by Cometa (Nov 2024), on top of roughly $10M in prior equity and $53M in debt
How it started
Jaime Tabachnik co-founded Solvento in Mexico City in 2021 after watching small trucking operators borrow from predatory lenders because banks deemed them uncreditworthy; with 95% of Mexico's trucking sector made up of small operators, he bet that digitized payments and invoice financing could make the industry's cash flow visible and bankable.
What happened
Solvento raised about $10M in equity plus $53M in debt and financed 100,000+ invoices, lending $180M+ to 1,400+ trucking companies. In November 2024 it closed a $12.5M Series A led by Cometa, with Quona Capital, Ironspring Ventures, Dynamo Ventures, Proeza Ventures, Zenda Capital and Endeavor Fwd Fund, planning to grow from 500 to 5,000 active carriers by end-2025 and to add fuel cards, truck financing and a freight-insights platform; partners include banks warming to the market and Uber Freight.
How it ended up
Still scaling: 500 active carriers targeting 5,000 by end-2025, projected ~$6M ARR for 2024 with profitability in 18–24 months, and expansion to U.S. companies entering the cross-border market.
Background
Solvento is a Mexico City fintech, founded in 2021 by Jaime Tabachnik, that automates freight payments and finances trucking invoices for shippers, carriers and 3PLs. Its founding bet: Mexico's trucking sector — which moves most of the country's freight and is 95% small operators — was starved of working capital because banks deemed truckers uncreditworthy, so operators had to borrow from predatory lenders.
The platform replaced the industry's average 60-day payment cycle with immediate settlement and used invoice and payment history as the credit signal. By November 2024 Solvento had financed more than 100,000 freight invoices and lent over $180M to more than 1,400 trucking companies, with 500 active carriers and a projected $6M in annual recurring revenue.
That month it closed a $12.5M Series A led by Cometa, joined by Quona Capital, Ironspring Ventures, Dynamo Ventures, Proeza Ventures, Zenda Capital and Endeavor Fwd Fund. CEO Tabachnik called the market 'winner takes most': the plan was to scale from 500 to 5,000 carriers by end-2025, add fuel cards and truck financing, and launch a freight-insights platform built on the millions of invoices processed, alongside partnerships with banks and Uber Freight.
As of late November 2024 Solvento was scaling in Mexico with profitability targeted within 18–24 months, betting that nearshoring tailwinds help but that the domestic market is big enough on its own.
What has to be true
- Mexico's trucking sector is large, fragmented and 95% small operators, so a single platform could standardize payments and data across an enormous market.
- Solvento priced risk from freight documents instead of collateral, making carriers bankable for the first time and replacing predatory lenders.
- Every payment processed produced underwriting data, so scale lowered risk and cost as the loan book grew.
- The timing matched nearshoring, which pulled more cross-border freight through Mexico and into the platform's market.
What can be applied
Credit markets ignore industries they can't see: by digitizing freight payments, Solvento turned invoice history into underwriting data and unlocked a niche banks had written off.
Aftermath
As of November 23, 2024, Solvento was scaling: 500 active carriers on a path to 5,000 by end-2025, roughly $6M projected ARR for 2024, profitability targeted in 18–24 months, and plans to add fuel cards, truck financing and a freight-insights rate-comparison platform while expanding services to U.S. companies in the cross-border market.
Sources
- Solvento raises $12.5 million to expand cross-border trucking
- Trump's tariff threats don't scare this Mexican fintech
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