LATEST REGIONAL PROJECT UPDATE
1 URUGUAY
2
CHILE
Uruguayan fintech Inswitch has been acquired by US-based TransNetwork – a B2B payment infrastructure platform for instant money transfers in Latin America .
Inswitch will retain its name , team and offices , while leveraging the acquisition to accelerate LATAM growth toward eventual entry into the US market .
The acquisition merges TransNetwork ’ s payment network with Inswitch ’ s instant money transfer capabilities , aiming to boost cross-border payment operations in Latin America .
Inswitch – with offices in Mexico , Brazil , Colombia , Peru , Chile , Argentina , Uruguay , Guatemala and El Salvador – is focussed on e-wallets , digital payments and card issuance and serves about 100 clients across LATAM and the Caribbean , processing some US $ 13 billion annually through its platform .
A government initiative led by Corfo and Fundación Chile aims to foster over 200 science-based startups in five years .
Startups Campus , a new public-private initiative , unites key players of the entrepreneurial ecosystem in one collaborative space .
Operating from Santa Rosa with Alameda , the Campus Santa Lucía spans nearly 4,000 square meters with features including coworking spaces , a biological sciences lab and hardware prototyping facilities .
The campus is intended to support the creation of scientific and technological companies toward applied research in productive sectors .
The Startups Campus is projected to support over 200 highgrowth potential startups in its first five years .
The new capital will primarily be invested in Inswitch ’ s commercial , marketing and product areas – with the company also planning a workforce expansion .
More than $ 10 million is being invested in the project , funded from Research and Development agreements linked to lithium exploitation .
3 COLOMBIA
4
ECUADOR
AI platform Celes has secured a $ 3 million seed round led by FEMSA Ventures .
Fintech Kushki has expanded as an acquirer across four LATAM countries .
The funds will be invested in enhancing technological capabilities – including user interface capacity . This investment eflects Celes ’ s strategy to solidify its LATAM presence across the region – especially in Mexico .
Kushki started as a PSP and recently shifted its business model to include physical payment methods , becoming the first non-bank regional acquirer in Latin America – now operating in Colombia , Peru , Mexico and Chile holding licenses from Visa and Mastercard .
The investment round was headed by FEMSA Ventures , a venture division of FEMSA . Other participants included MatterScale Ventures , Rockstart , Primeline Group , Wayra Hispam , Kuiper VC , NOA Capital and Storm Capital , along with entrepreneurs Santiago Gómez from Simetrik and Fabián Carrillo from Cluvi .
Celes CEO Luis Ricardo Almanza thanked the investors ’ for their trust , emphasizing the investment ’ s role in bridging the technology gap in LATAM ’ s retail sector .
Celes ’ s AI and data analytics capabilities help retailers manage inventory and replenishment efficiently , which in turn drives customer loyalty and competitive pricing strategies , fostering sustainable growth , he said .
In LATAM , Celes operates in Colombia , Peru , Bolivia , Guatemala , and Argentina – with inroads being made into Mexico .
In line with an aggressive growth strategy , Kushki aims to expand “ card-present ” transactions , allowing users to utilize physical cards at POS terminals .
This expansion leverages the expertise acquired from purchasing Mexican company Billpocket two years ago , which has over 500,000 terminals in operation .
Kushki is prioritizing operations in Chile and Mexico , where it sees the most interest and opportunity . Rodrigo Quijada , Kushki ’ s country manager in Chile said Kushki offers a unique regional acquiring experience that does not require separate contracts for services in each country .
Kushki ’ s expansion and strategic focus on regional acquiring and advanced payment technologies position it as a leader in the evolving LATAM fintech landscape .
26 INTELLIGENTCIO LATAM www . intelligentcio . com