Chile-based Global 66, an international money transfer platform, has reportedly closed its seed round on $4.3m.
Investors included Venrex and Genesis Management, as well as angel investors William Armitage, Andrew McKay and Mario Solari, according to a report from Contxto. This group of investors now hold a combined 25% stake in Global 66.
The fresh equity will help the company to continue its expansion efforts, with plans to enter the Canada market.
Global 66 is an online remittance platform that enables users to easily send money internationally. Users can currently send money to Chile, Peru, Colombia, Argentina, Spain, USA, Brazil and Venezuela.
Fellow Chilean FinTech platform Jooycar recently closed its own funding round on $750,000 to help it move into the US market.
The company leverages real-time driving data to give consumers in Mexico, Peru and Chile with usage-based vehicle insurance policies.
Latin America’s FinTech space has rapidly grown since 2016, FinTech Global data shows. A total of $350.4m was invested across 118 FinTech deals in 2016; however, last year, a sizable $2.7bn was invested through 171 transactions. Investment over their period has grown at a CAGR of 98.9%,
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