CAF makes its first investment in a Govtech startup
As part of the govtechlab Platform and the Investment and Business Development Fund (FIDE), CAF made the first investment in a govtech startup in Latin America, with the aim of improving data analytics in the public sector.
This is the Spanish startup Citibeats,, an expert in the use of data intelligence and advanced analytics focused on understanding changes and social needs to support governments in their decision-making processes.
This investment by CAF-development bank of Latin America- is part of an international round carried out by Citibeats for a total of more than 2 million euros, focused on underpinning the company's global international expansion, especially in Latin America. In addition to the World Health Organization, Citibeats currently has clients such as Twitter, Facebook, the United Nations Development Program, the Inter-American Development Bank, the International Telecommunication Union, NTT Data and the United Nations Educational, Scientific and Cultural Organization (UNESCO) among others.
With this investment, CAF underpins its role as a multilateral leader in the govtech sector with the aim of increasing the capacities of the public sector for the implementation of public policies and strengthening new economic sectors with high added value and high productivity.
This is the first in a series of investment operations focused on strengthening the ecosystem and improving the efficiency and impact of governments, startups, the investment sector and civil society.
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