At Zenda, we support entrepreneurs who are creating essential software that revolutionizes the movement of money, goods and information across the Americas.
🤝 Have you seen or spoken with any interesting entrepreneurs? If so, please email us at team@zenda.vc.
📨 Make sure to forward this issue to anyone looking to stay in the flow on all things related to B2B fintech, supply chain & logistics and beyond!
👋 Hi founders, investors, and operators!
As the situation in the Red Sea evolves, we're keenly observing its ripple effects across various industries. While there's an abundance of analysis and thought pieces on its potential implications for the global supply chain, this situation underscores our belief in the value of nearshoring. Regardless, we remain hopeful for a swift resolution to this conflict, considering the significant geopolitical stakes involved.
Stay safe and onwards,
Esteban and Jeff
What We’re Following
TIA warns Congress of rampant fraud in trucking (FreightWaves)
Fleeting thought: Fraud is a billion dollar problem in freight operations today. The reckoning in 2023 only validated its scale, as we saw bottom lines impacted from double brokering to outright stolen cargo. It’s hard to stamp tech-enabled fraud solutions on top of physical, real-world problems, especially when the industry is premised on legacy systems, inefficient data integration, and, simply put, people. Matt Silver, an expert in cross-border logistics, says it simply in his latest article on security in Mexico that “there isn’t a single silver bullet that solves all the theft issues in Mexico. It takes a combination of strong SOPs, quality cross-border partners, and some better protections in certain aspects of the process.” To effectively combat fraud, we believe in the creation of alternative data sources to enhance visibility around freight operations. Think AI-powered software that augments lane visibility or embedded fintech/payments that can better track the movement of money attached to goods. This additional context will be key to creating a more robust, data-enriched environment that's better equipped to tackle fraud in logistics.
Visa Completes Acquisition of Pismo (Business Wire)
Our 2¢: In contrast to the U.S., where BaaS companies are experiencing market shifts, consolidation and even lawsuits, Brazil tells a different story. Last June, Visa agreed to acquire Pismo for $1 billion in cash. By integrating Pismo’s technology, Visa plans to fortify its core banking and issuer processing capabilities across card types using cloud-native APIs. Moreover, its platform is set to bolster Visa's support for emerging payment methods, such as Brazil's Pix, expanding services for financial institutions. This acquisition validates the region's innovative capabilities and marks another milestone in Brazil’s growing influence in the global fintech arena. Our enthusiasm remains high as we continue to partner with bold founders in Brazil, driving forward pioneering and technology developments in the fintech space.
General Catalyst to buy and convert Ohio’s Summa Health to for-profit (Axios)
Pulse check: This can be a pretty big deal for the U.S. healthcare system. While the deal still awaits regulatory approval (and we have a hard time seeing why it would face any hurdles given the size and scope of Summa), this would be the first step in the right direction for General Catalyst to fulfill its ambition of building a pioneering full-stack healthcare incubator. This platform would give its portfolio companies the ability to test and refine its product, validate ROI assumptions quicker (= faster time to value), and scale their healthcare tech innovations more effectively. If successful, this could revolutionize how tech is integrated into healthcare systems, offering a model for other institutions to follow. However, beyond regulation, we’re keeping an eye on how GC will be able to align incentives with all the relevant Summa stakeholders (e.g. management down to clinicians), especially as it navigates the transition from a non-profit to a for-profit model.
We’re still in the process of hiring a talented Analyst to join our investment team. You can find the job description and application link below. If you know someone in your network who might be a great fit or if you have any questions about the position, feel free to get in touch with the Zenda team.
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