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Trump’s tariff threats don’t scare this Mexican fintech

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Mexico’s economic development — turbocharged by the amount of nearshoring in recent years — has made it fertile ground for startups. But the trend is under threat if President-elect Donald Trump follows through with his idea of taking a harder line on trade with Mexico

Jaime Tabachnik, co-founder and CEO of Mexican trucking finance startup Solvento, isn’t too worried, though. “Mexico is the best trade partner, geographically, economically, logistically” to the U.S., he told TechCrunch in a recent interview. But even if the relationship sours, he said, Mexico’s growing economy is big enough for his company to grow.

“The market intra-Mexico, and with our ports, is still big enough for us to build something very big and gigantic,” he said. “We definitely are cheering for an incredible trade partnership between the U.S. and Mexico and [for] that to continue thriving, because it’s an incredible tailwind for us, but we’re not dependent upon it to thrive.”

Tabachnik shared this perspective as his company closed its $12.5 million Series A funding round, which was led by venture capital firm Cometa, and included existing investors like Austin, Texas-based Ironspring Ventures

The firm, founded in 2021, provides modern financial services to trucking companies in Mexico, often taking the place of more unsavory lenders that small Mexican businesses have had to rely on in the past, Tabachnik said. Solvento offers invoice financing, automated payments, and its products in general increase transparency and liquidity in the trucking sector, he said.

Solvento hopes to use the funding to grow from a current customer base of around 500 carriers to 5,000 by the end of 2025, Tabachnik said. Scale is key because Tabachnik said he thinks this financial slice of the transportation market is a “winner takes most” situation. 

“We need to move fast,” he said.

Along that growth path, Tabachnik said he wants to add new products like fuel cards and start extending credit to companies to buy trucks. It’s also launching a freight insights platform that leverages the millions of invoices it has handled to date, which shippers and carriers can use to compare trucking rates across the country. 

To do some of this, Tabachnik said Solvento has been winning over some of the banks that were previously hesitant to embrace this market, and is striking partnerships with newcomers to Mexico like Uber Freight.

“If we help [customers] add new assets and more trucks to their fleets, that is just going to help them generate more revenue, more invoices are going to be further discounted, they’re going to consume more fuel. So getting this flywheel starting to spin, in addition to scaling the core offering, is what we believe is the setup in an incredible position for our Series B,” he said.

“We are living in an era where I think the word nearshoring has been the most featured buzz word in the past year or two, right?” Tabachnik said. “But it’s real.”



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YouTube’s new auto-dubbing feature is now available for knowledge-focused content

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YouTube announced on Tuesday that its auto-dubbing feature, which allows creators to generate translated audio tracks for their videos, is now rolling out to hundreds of thousands more channels. 

YouTube first introduced its AI-powered auto-dubbing tool at Vidcon last year, which was only being tested with a limited group of creators. This tool could help make content on the platform more accessible and easier to understand for people all over the world.

The auto-dubbing feature is now available to channels that are focused on informational content, such as videos that teach viewers how to cook or sew. It’ll expand availability to other types of content soon. 

To use the feature, simply upload a video as you normally would. YouTube will automatically detect the language and create dubbed versions in other languages. The tool supports English, French, German, Hindi, Indonesian, Italian, Japanese, Portuguese, and Spanish.

Image Credits:YouTube

YouTube’s auto-dubbing utilizes Google’s Gemini capabilities to replicate human speech. However, the company cautions that the feature may not perform perfectly, as the technology is still in its early stages of development.

“We’re working hard to make it as accurate as possible, but there might be times when the translation isn’t quite right, or the dubbed voice doesn’t accurately represent the original speaker. We really appreciate your patience and feedback as we continue to improve,” the company wrote in Tuesday’s blog post. 

The company also reminded creators that they can look forward to another upcoming update called “Expressive Speech,” which is designed to help replicate the creator’s tone, emotions, and even the ambiance of their surroundings.



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CarDekho SEA raises first-ever outside funding, co-founder says he’s interested in acquisitions

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CarDekho SEA, a Singapore-based auto financing service platform, has raised $60 million in equity, valuing the company at over $300 million, from Navis Capital Partners and Dragon Fund. This is its first round of external funding, following a previous investment of $40 million from its parent company, CarDekho Group.

The company, the Southeast Asia unit of India’s CarDekho Group, will use the funding to support its further expansion into Southeast Asia, focusing on the used car and bike financing industry in Indonesia and the used auto financing sector in the Philippines, Umang Kumar, co-founder and president of CarDekho, said in an interview with TechCrunch.  

Kumar told TechCrunch that acquiring a used car financing platform or insurance brokerage platform in Indonesia and the Philippines could be one of its strategies to increase their presence in the region.

“We do have a couple of assets lined up in terms of what we will look at. You may hear something along those lines within a month or two…we will actively look at acquiring activities. The idea is not completely organically built. So we will look at some inorganic acquisition as we build out our business across Southeast,” Kumar said.

Founded in 2020, the company already has a significant presence in Indonesia (OTO Indonesia) and the Philippines (Carmudi Philippines and Zigwheels Philippines). It’s also in a few other Southeast Asian markets, such as Thailand, Singapore, Malaysia, and Vietnam, and is eyeing expansion into new markets in 2026.

Kumar explained that the company initially had a joint venture partner in Indonesia but later bought out the local partner entirely, becoming the 100% owner of the entity between 2019 and 2020. The company’s acquisition spree continues as it acquired Carmudi, which operates in the Philippines, Indonesia, and Thailand, in 2021 to expand into SEA, Kumar explained.

Unlike its peers, CarDekho SEO acts as a comprehensive aggregator for auto financing services. Its main competitor used to be Moladin, which has now pivoted to become a full-fledged lender.  

CarDekho SEA highlights its edges, including its technology-driven loan procedures, asset-light marketplace approach with no credit risk, an extensive network of used car dealers and agents, and solid collaborations with financial institutions. CarDekho SEA will use AI and machine learning solutions to reduce fraud and credit risks and provide more data to their financing partners to succeed in a changing technological environment.

Since its launch, the company has experienced significant growth, with over 200,000 disbursements and over $1 billion in loans disbursed. This represents a 50x increase in gross merchandise value over the past three years and establishing partnerships with over 50 financiers and 20,000 dealers and retail agents.

Its primary customers are small-scale used car dealers, with many having less than ten cars in stock or no physical showroom at all. “Due to their sub-scale presence, financiers often find it challenging to serve them directly,” the CEO said. “Our platform aggregates demand from these individual dealers, connecting them to a wide network of financiers and offering access to a variety of financial products for themselves and their customers—products that were previously inaccessible to them.”

The company is in the scale-up phase, generating upwards of $50 million in revenue annually through per-loan commissions with the financiers.



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SpaceX Conducts Epic Test Fire Of Starship Booster For Next Flight; Watch

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SpaceX, on December 10, conducted a static fire test of its Starship Super Heavy Booster at the Starbase facility in Texas. The test was part of the preparations for the flight which could happen as soon as January 2025.

Taking to social media, SpaceX shared a video and pictures from the test where the 232-feet-tall Booster stood on the launch mount and its 33 raptor engines were briefly fired.

The next flight will be Starship’s seventh. Flight 6 took place on November 20 and was largely successful. The only point where SpaceX fell short was catching the Super Heavy Booster using the launch tower due to a technical issue.

Reports have hinted that SpaceX will try launching the rocket on January 11, 2025 but an official announcement from the company is yet to be made.

ALSO SEE: Anand Mahindra Mighty Impressed As SpaceX Catches Starship Booster, Asks Elon Musk For A Ticket

SpaceX CEO Elon Musk also hinted that the launch might happen soon as he reposted pictures of the test fire with the caption, “Getting ready for flight 7.”

According to an email sent by NASA to the Federal Aviation Administration (FAA), the agency wants to use its Gulfstream V jet to observe the Starship mission. It will gather data on the rocket’s upper stage’s atmospheric reentry from the sky.

The 400-feet-tall Starship not only matters for SpaceX to ride to Mars but also to NASA, which wants to use it for landing astronauts on the Moon. The agency has paid SpaceX nearly $4 billion to develop rockets that would take humans to the lunar surface in more than five decades. Starship will be used by NASA during Artemis 3, the Moon landing mission that has been pushed to mid-2027.

Musk has previously said that the mega rocket will reach Mars in the next four years and if all goes well with its landing on the red planet, we might soon see astronauts leave for Mars as well.

ALSO SEE: Elon Musk ‘Highly Confident’ About Sending Starships To Mars By 2026

(Image: SpaceX)





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