For the manager, the fact that BBVA Mexico also finances a startup or a soonicorn would also help entrepreneurs to gain certain level of confidence in front of the venture capital.
The potential of this business is great, according to the bank, since Mexico is the second most important market in Latin America, after Brazil, with more than 2,500 startups. In fact, a survey carried out by the same bank showed that one in three companies considers that BBVA Spark can add additional value to their company.
The new division was launched in Spain on July 15 and this Monday in Mexico, operations begin in Mexico City but it is expected that towards 2023 reach other cities Guadalajara, Monterrey and Puebla.
“The bank’s muscle allows us to grow quickly (in the country). We want to serve 300 companies this year and we already have 20 specialized advisors serving this segment,” added Naffah Mahuad.
For this new division, the bank plans to hire more staff, since 10% more personnel will be required to serve clients, since “tailor-made suits” will be made for each one.
Asked about the challenges for this new business unit, in a context of high inflation and rising interest rates, BBVA said that it is precisely at this time when there is a greater need for financing by companies.
“The companies are going to continue there. Although we have a lot of noise of uncertainty, the companies are not doing badly and we will be able to continue serving companies because there is a lot of opportunity for growth. It is in the crisis that large companies are created,” said Naffah Mahuad.
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