One of the newest Chedraui family investments through their venture capital firm Cubo Capital is named Bankaya SAPI de CV.
Bankaya’s insiders include a number of long-time Chedraui associates including Alfredo Mauricio Flores Ibarrola, Joaquín González Gutiérrez and Pablo Prudencio Collado Cásares.
Bankaya SAPI de CV formed in Mexico City in October 2019 with a variety of business purposes related to developing and patenting new financial technologies that startup companies call “fintech”.
The initial shareholders and percentages owned were:
47.5% – Cubo Capital, SA de CV
(47,500 shares Series A)
Cubo Capital is controlled by members of the Chedraui family.
47.5% – Polygon Digital Group, SA de CV
(47,500 shares Series B)
Polygon Digital Group was founded by Ernesto Vargas Rivero and the venture capital firm he co-founded with Diego Vargas Rivero, called Variv SA de CV.
Ernesto Vargas Rivero co-founded Grupo Tecnológico Nomi-Pay, SA de CV in 2014 with Rafael Puente Rojas and Emilio Gamboa Miner, the son of former PRI Senator Emilio Gamboa Patrón.
5% – Mauricio Cordero Ondarza
(5,000 shares Series B)
Mauricio Cordero Ondarza “is now working on a new fintech startup to be launched in 2020” according to his speaker biography for the October 2019 “Mexico M&A and Private Equity Forum” in Mexico City.
The board of directors of Bankaya at its founding was:
José Ramón Chedraui Eguía
Chairman and “A” Class Director
José Ramón Chedraui Eguía is Chairman of Consubanco, Store Brand Director for Grupo Comercial Chedraui, and the Chairman of the Board of Bodega Latina Corporation (“El Super” and “Fiesta Mart” in the United States).
Diego Vargas Rivero
Secretary and “B” Class Director
Diego Creel Moreno
“B” Class Director
Mauricio Cordero Ondarza
“B” Class Director
Joaquín González Gutiérrez
“A” Class Director
Joaquin Gonzalez Gutierrez was Deputy Managing Director of the Chedraui-controlled financial services company Factoring Corporativo as of September 30, 2019.
Alfredo Mauricio Flores Ibarrola
“A” Class Director
Alfredo Mauricio Flores Ibarrola founded paycheck lender Opcipres, now owned by members of the Chedraui family through Cubo Capital and Grupo Consupago. Alfredo Flores Ibarrola was also Executive Director of the Chedraui family’s paycheck lender Grupo Consupago at year-end 2018.
Pablo Prudencio Collado Cásares
“A” Class Director
Pablo Prudencio Collado Cásares was on the board of Grupo Comercial Chedraui in 2010. Prior to that he was CFO for Grupo Elektra. Collado Cásares was Sergio Chedraui Eguía‘s alternate director in 2011 for Círculo de Crédito SA de CV. Ricardo Salinas Pliego was also a boardmember of Círculo de Crédito at the time.
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