“Can a B2B2C digital savings infrastructure platform unlock financial inclusion for historically excluded populations across Latin America by powering ROSCA and goal-based savings products for banks and retailers?”
Founded in 2020 in Bolivia as Pasanaq, Sommos digitized the traditional ROSCA (rotating savings group) model to serve historically excluded populations in Latin America. The company rebranded to Sommos and pivoted to a B2B2C model, selling white-label digital savings infrastructure to financial institutions and retailers rather than operating directly with end consumers. Their embedded finance angle is providing savings rails — digital group savings (ROSCA) and goal-based individual savings — to banks and microfinance institutions across Bolivia, Peru, and Mexico.
Sommos is founded in 2020 and headquartered in Santa Cruz de la Sierra, Bolivia.
Sommos has raised $520K in total.
Get a read on where your own stack stands against Sommos and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.