Devela investee: Cacao Embassy, Guatemala

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Cacao Embassy, founded by the young Matute brothers in Guatemala, produces premium chocolate locally under the brand Chocolate Sero. In a country where 70% of cacao farmers earn less than one dollar a day, Cacao Embassy stands out for its innovative and fair business model which has the potential of transforming the entire cocoa value chain. By transforming and packaging chocolate locally, the company pays producers higher prices, creating a dignified livelihood for smallholders who might otherwise be forced to sell their land. Thanks to swift, flexible Devela SA/FIT financing that did not require guarantees, the brothers were able to expand production without taking on excessive risk. Today, Cacao Embassy works with five cooperatives representing 300 smallholder farmers who follow environmentally friendly practices that preserve biodiversity.