Magma Partners invests in Latin America’s gig economy with Heru

December 2, 2020

February 23, 2021

Independent workers represent about 40% of the total workforce in Latin America. Yet, these workers have limited access to services or products that can improve their working conditions.

Founded in 2019 by Mateo Jaramillo and Stiven Rodriguez, Heru is a Mexican superapp built for gig economy workers. With Heru, independent workers can access tailored insurance policies, working capital and credit, tax-declaration products, financial guidance, cell phone data plans, as well as a rest stop called Heru Casas.

Mateo and Stiven are former employees at Uber where they helped build and grow the ridesharing app’s operation in Latin America. 

“As founders, we were fortunate to be part of that first wave of companies that helped build what we know today as the tech-enabled gig-economy by helping launch Uber in the region back in 2013. Today we are proud to lead the second wave of companies who are now building products and services to serve that growing economy of independent workers,” commented the founders.

Magma Partners invested alongside Mountain Nazca, Flourish Ventures, and angel investors.

Heru has attracted more than 19,000 users to its platform and we’re excited to support Heru as it continues expanding its team and builds B2B2C partnerships with key gig-work-based platforms in Mexico.