Levo

Levo, established in 2020 and headquartered in Mexico City, operated as a financial technology platform targeting the Latin American market. The company was founded by Max Mergenthaler Canseco and Salvador Rivero. Rivero, with a background in Political Science and Finance from Sciences Po in France, brought nine years of experience from the investment industry, where he managed over $1.5 billion in Latin American equity markets.

The firm developed a regulated treasury management application aimed at providing intelligent cash management services for startups and small to medium-sized businesses (SMBs). Levo's platform was designed to help these businesses optimize their idle cash through customized investment, cash management, and working capital strategies. For individuals, the platform functioned as a collective savings system, allowing users to form groups and save for common goals or future expenses. The service facilitated saving at favorable rates without requiring minimum amounts and enabled the purchasing of promissory notes without needing to switch banks.

The company participated in the Y Combinator Summer 2021 batch and secured $125,000 in a seed funding round on September 1, 2021. In total, Levo had four institutional investors, including Y Combinator, BackBone Ventures, and 99 Startups. Before ceasing operations, Levo was in the process of registering as an Independent Investment Advisor with Mexico's National Banking and Securities Commission (CNBV). According to PitchBook and Y Combinator, the company is now inactive or out of business.

Keywords: Levo.mx, treasury management, cash management, Latin America fintech, SMB finance, startup finance, collective savings, automated investing, Salvador Rivero, Max Mergenthaler Canseco, Y Combinator, Mexico City startup, investment platform, working capital optimization, idle cash, financial services, promissory notes, CNBV, BackBone Ventures, 99 Startups