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CAF makes its first investment in a govtech startup in Latin America

As originally published on Atalayar.

Economy and Business
July 27 2021

Atalayar Staff

As part of the Govtechlab Platform and the Business Investment and Development Fund (FIDE), CAF (Development Bank of Latin America) made its 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 is part of an international round made by Citibeats for a total of more than €2 million, focused on underpinning the company’s international global expansion, especially in Latin America. Currently, in addition to the World Health Organisation, Citibeats has clients such as Twitter, Facebook, the United Nations Development Programme, the Inter-American Development Bank, the International Telecommunication Union, NTT Data and the United Nations Educational, Scientific and Cultural Organisation (UNESCO), among others.

With this investment, CAF underpins its role as a multilateral leader in the govtech sector with the objective of increasing public sector capacities for the implementation of public policies and strengthening new economic sectors with high added value and high productivity.
This is the first of 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.