Graviti

Graviti is a Mexican BNPL provider focusing on the unbanked and low-income household segment in Latin America. The platform offers financing to purchase household appliances such as solar heaters, refrigerators, and washing machines. Customers can pay in weekly, bi-weekly, and monthly installments. The platform also integrates with WhatsApp, where onboarding and customer-related queries are handled.

Graviti generates commission-based revenue from appliance distributors, which as of May 2021, includes Whirlpool, Acros, Daewoo, and Mabe. Graviti connects internet-enabled meters on the appliances, allowing them to gradually reduce their functionality remotely if payments are not made on time. The platform is reported to have a default rate of 1.21% as of May 2021.

In May 2021, Graviti raised a USD 2.5 million seed funding round led by Active Capital. The round included participation from Mucker Capital and ClockTower Technology Ventures. With the fresh capital, Graviti aims to add a new product to its financing scheme every month to include dryers, refrigerators, and washing machines. Furthermore, the funding will strengthen its balance sheet to provide merchant financing.

The company claimed that as of April 2021, it was extending more than 300 loans and expected to cross the USD 1 million loan threshold in the upcoming months. Furthermore, Graviti reported that it consistently generates USD 50,000 in revenue each month.