After the pandemic, the platform generated an expansion plan that will obtain financing in Mexico, the United States and England for one million dollars.
Mi Cochinito , the social crowdfunding platform, became the first non-financial project of Mexican origin to expand its operations to Central America and Canada, despite the economic ravages of COVID-19 .
After the onset of the pandemic, the company designed a strategy with the objective that the economic crisis would not affect the momentum of the participating initiatives, nor would it destroy more than 5 years of work. In this way, it generated an expansion plan that has allowed it to go from generating 100,000 pesos a month for the development of new projects, to almost half a million pesos.
“We decided to double the bet, put a good face on bad weather, and bet on internationalization. Even with the economy closed due to the pandemic, we formed a network of allies and investors in Central America and Canada, which today allow us to change the paradigms around financing tools in the region ”, says Federico Arellano, executive director of Mi Cochinito (My Little piggybank).
Last September, the platform started operations in Ecuador and El Salvador, thereby attracting the attention of investment funds from Mexico, the United States and England, with whom it is about to close its first round of international seed capital for one million dollars. .
“We are an enterprise dedicated to supporting other entrepreneurs, and with this capital we consolidate ourselves as an international platform that shows that great crises always bring great opportunities,” said Arrellano.
$ 900 million to boost young talent
With the expansion of operations, Mi Cochino is shaping up to be a unique international agency of its kind, specializing in youth and promoting entrepreneurship through collective financing.
Thus, the purpose of the platform becomes more ambitious, since it will also seek to make student initiatives visible so that they obtain the necessary capital to materialize and not remain only in the classrooms. The goal is to reach 900 million dollars that will contribute to innovation and the development of young talent.
Mi Cochinito is a digital piggy bank that works under a hybrid scheme of crowdfunding and education, and since 2015 it has funded more than 500 projects and attended more than 10,000 students with workshops and conferences.
The platform does not operate as a financial institution, nor does it grant loans or credits, it is a virtual space where anyone who needs money for any cause of entrepreneurship, art, or sport can request financing and find sponsors through social networks.
Some successful little pigs include the Symphonic Mining Orchestra, which raised funds to survive the pandemic; the first Mexican solar car developed at the Autonomous University of the State of Mexico and the entrepreneur and tiktokera Lispastel.