Impacta VC Adds Startup Retorna to Its Portfolio Following a USD 300k Investment

Impacta VC Adds Startup Retorna to Its Portfolio Following a USD 300k Investment

Following its participation in the IFSP2023, Impacta VC has announced the addition of the Chilean startup Retorna to its portfolio. This strategic investment of USD 300,000 marks a significant milestone for both Impacta VC and Retorna, highlighting the importance of financial technology (fintech) solutions in addressing the needs of migrant communities.

Record-Breaking Investment

The investment in Retorna represents the largest single ticket that Impacta VC has made to date. This move brings the total number of startups in Impacta VC’s portfolio to nine. The capital infusion was part of a larger funding round that aimed to raise USD 1.2 million but was oversubscribed to USD 1.8 million. Impacta VC led the investment round, joined by other notable investors including Amplifica VC, Morro Ventures, Colectivo Jaguara, and several angel investors.

Retorna, a fintech company, aims to democratize the process of sending remittances for migrants. The capital raised will be used primarily to expand operations and enhance customer acquisition and retention strategies. Retorna plans to establish remittance routes across Latin America, positioning itself as the premier remittance service provider by offering superior value and differentiation.

Journey through IFSP and IFAS

Retorna’s journey began with its participation in the Impacta Fundraising Strategy Program (IFSP) and continued through the Impacta Fundraising Advisory Sessions (IFAS). These sessions provided one-on-one guidance from the Impacta VC team over three months. This close collaboration allowed Impacta VC to assess Retorna’s potential and operational standards, leading to the investment decision.

David Alvo Verdugo, CEO, and founder of Impacta VC, highlighted the reasons behind their investment: “Working closely with Retorna’s team allowed us to see their high standards and scalability potential. The founder, Atilana Piñón, is directly involved in addressing a significant issue faced by migrants, with a well-developed product that has strong growth projections and a substantial social impact.”
Atilana Piñón, co-founder and CEO of Retorna, emphasized their mission: “Our goal is to expand our user base to dominate the markets we operate in. We are focused on financial inclusion and transforming the landscape of international transactions through social impact and economic empowerment for migrants. Having impact-focused investors who believe in making the world a better place is crucial for our success.”

Future Investment Plans

Impacta VC has set aside a portion of its funds for follow-on investments, aiming to support companies in subsequent funding rounds. This strategy has already been applied to other portfolio companies such as Carryt, Kilimo, and Wheel the World. Impacta VC’s mission is to help purpose-driven entrepreneurs secure funding and scale their businesses, thereby amplifying their positive impact on the world.

Impacta VC’s investment in Retorna underscores its commitment to supporting startups with a strong social impact. The experiences gained through the IFSP24 program are expected to bring more high-potential, impactful startups into the fold.