Levo is a high yield savings account for Mexico
Levo is a high yield savings account for Mexico. We aggregate the savings accounts of our users and negotiate significantly better interest rates from other banks on their behalf. There are $65b in savings for which we charge 1.5%, making this a $1b opportunity only in Mexico. The company is founded by Salvador Rivero, former Equities VP Portfolio Manager for BBVA, for which he invested $1.5b USD in Mexico and Latam; and Max Merghentaler 3x founder and CTO of 2 ML companies. To date we have $300k USD AuM, growing at 28% w/w, 64% client retention and 2,516% net AuM retention, we have LOIs with 3 banks. Our main investors are Y Combinator, Magma Partners, Latitud and BackBone Ventures.