Atta Impact Capital Invests in Rutopía’s Seed Round to Support the Generation of $20 Million USD in New Income for Rural and Indigenous Communities in Latin America Within Three Years
Mexico City, October 23rd 2024 – Rutopía, a Mexican B Corp and social enterprise that connects sustainable tourism projects in rural and indigenous communities in Latin America with the global market, has successfully completed the raising of their Seed round led by the elea Foundation for Ethics in Globalization, with participation from ATTA Impact Capital and Boosting Opportunities Fund, following an earlier investment from Fondo Nimbus.
Rutopía is building a platform that empowers rural and indigenous communities in Latin America by connecting them with additional sustainable income streams, while allowing for the preservation of their natural and cultural heritage for future generations. This round of financing will accelerate Rutopía’s technology development, facilitate reaching new markets to make sustainable tourism accessible to more people worldwide, and support the expansion and strengthening of its network of local hosts. Rutopia is aiming to generate over $20 million USD in income for more than 400 rural communities over the next three years, improving the lives of more than 8,000 people and contributing to the preservation of more than 70,000 hectares of critical ecosystems.
From left to right: Emiliano Iturriaga and Sebastián Muñoz. Co-founders of Rutopía.
Mexico is a top global tourist destination, attracting more than 30 million visitors annually. However, the majority of tourism is concentrated in a few well-known hotspots, leaving rural communities marginalized with limited access to income generation opportunities. In fact, 80% of international visitors to Mexico are concentrated in just five destinations, while only 7% of the income generated reaches local communities outside of those zones. Rutopía is changing this dynamic by creating curated, authentic, and meaningful connections between international travelers and locally-led, sustainable tourism providers located mostly in rural communities.
Transforming Tourism in Mexico
Next Steps with the New Investment
With its newly secured funding, Rutopía starts a new chapter alongside its diverse impact investors. Key initiatives include:
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Developing an e-learning platform for local hosts, leveraging Mexico’s 2021 achievement of universal internet in rural areas.
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Collaborating with hosts to create tourism experiences that protect and restore biodiversity.
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Expand into new markets, appealing to more travelers seeking more sustainable and authentic ways to explore Mexico.
We were looking for investors that understood and were passionate about our mission, and we are very happy to have found them. This investment is much more than just capital, it is bringing onboard a unique set of amazing individuals and organizations to change the future of tourism in LATAM.
Emiliano Iturriaga, Co-founder of Rutopía.
We are delighted to have been able to lead Rutopias‘s recent funding round, thus contributing to its further success. Rutopia’s social impact-oriented tourism offering combines sensitivity to the needs of Mexico‘s indigenous communities with providing distinct experiences to international tourists in a unique way. We wish Emiliano Iturriaga, Sebastian Munoz, and their team all the best in realizing the huge potential of this exciting venture
- Peter Wuffli, Founder & Chairman of elea Foundation, former CEO of UBS Bank.
In 2021, Rutopía became the first tourism company in Mexico to achieve B Corporation certification. In 2022, the company was recognized as “The Most Promising Tourism Company in Mexico” by Consejo Nacional Empresarial Turístico, Endeavor México and the Expansión Magazine.
We have been hosting activities for Rutopía travelers for almost three years. This has brought an income stream for my family and the community that has allowed me to finish high school, employ 5 local guides that would have otherwise migrated to Cancún, and provide hiking tours in the 600 hectare natural reserve of our community.
- Enrique Wilcab, member of the A'aktun Jaaleb indigenous cooperative (Rutopía host).
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Our team at ATTA booked a trip with Rutopia in Southern Mexico to see for ourselves what type of impact they are able to create within the communities with whom they partner. We witnessed beyond a shadow of a doubt the benefits to these communities, economic and otherwise, of gaining access to more opportunities to welcome and receive conscious travelers. We also felt first-hand how powerful the experience of authentic cultural connection can be as visitors and participants in these activities. We are thrilled to join Rutopia on this journey as investors and partners, and cannot wait to see what the future holds for this fantastic team and the amazing communities with whom they work hand-in-hand!
- Charles Higgenbotham, Co-founder and Head of Operations at ATTA Impact Capital.
Rutopía was founded in 2019 by Emiliano Iturriaga (a Sustainable Development Engineer from Mexico City) and Sebastian Muñoz (a Designer from Mexico City), starting with partnerships in 11 rural communities. That same year, Rutopía became the first company in Latin America to win the Hult Prize, the world’s largest social enterprise award.
Building on the generous support Rutopia has previously received from USAID and other investors, Atta Impact Capital is working with their new portfolio company on the continued refinement and implementation of their Impact Measurement and Management (IMM) model, along with facilitating their future expansion plans further into Central America.
Learn more about Rutopía at https://rutopia.com/en and experience authentic Mexico. Real trips by real people
Contact:
Emiliano Iturriaga, Co-founder & CEO ! | emiliano@rutopia.com
Sonia Nápoles, Public Relations | sonia.napoles@rutopia.com
About Atta Impact Capital, Inc
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Atta Impact Capital increases access to capital in emerging impact investment ecosystems. Through the Mesoamerican Catalytic Fund I, they invest in impact-driven companies in the "missing middle" of Central America and Southern Mexico. For more information, please visit www.attaimpact.capital
Abigail Napsuciale | Co-founder & Head of Investments | abigail@attaimpact.capital