FinTech companies capitalize on opportunities in financial niches that they can serve efficiently thanks to their technology. And in many cases, they offer solutions that have a positive social impact. This is the case with Migrante Sociedad Financiera, the first Chilean FinTech company focused on providing loans and financial advice to migrants.

Using its proprietary technology and scoring model, Migrante seeks to address the problem of limited access to formal sources of financing faced by the migrant community in Chile.

Since October 2018, Migrante has issued loans totaling more than $6,000 million and has served more than 5,000 unbanked immigrants, offering them opportunities to improve their quality of life and begin building a credit history in Chile, supporting their financial growth through auto loans, seed capital for entrepreneurs, and the recognition of university degrees, among other services.

Migrante has been recognized by Endeavor as a high-impact startup, and has been awarded the Endeavor Scale Fintech Program Award. In addition, the company is in the process of becoming certified as a B Corporation, which seeks to address social and environmental issues through market forces.

Migrante's key partners have extensive experience in the technology and finance sectors, including Ignacio Canals, founder of Lemontech, and Diego Fleischmann, founder of AVLA and CrediTú.

FYNSA Migrante Fund, which was recently listed on the Santiago Stock Exchange, allows investors to invest in the Migrante portfolio and has secured initial commitments of more than 15,000 million pesos.