Colombian FinTech startup Finaktiva raises $25m

Colombian FinTech startup Finaktiva raises $25m

Colombian FinTech company Finaktiva has reportedly raised $25m in a mix of debt and equity.

The round comprised of $20m debt from Bancolombia and other local banks, according to a report from LatamList. The $5m of equity was supplied by responsABILITY, a Swiss impact investment fund that offers capital to emerging markets.

This investment capital will help Finaktiva bolster its financing lines.

Finaktiva is a digital financing ecosystem for SMEs in Colombia. Its platform helps companies quickly access credit lines, early bill payments, payment management and credit insurance.

It leverages technology to generate insights into each stage of business maturation and will offer support for these various stages.

Finaktiva CEO Pablo Santos told LatamList the company has a broad capacity to originate loans for companies with highest standards for risk management. It also accounts for Sustainable Development Goals to help support ESG-positive companies.

There have been a number of FinTech funding rounds in Colombia this year. PayTech firm Simetrik recently raised $24m for its Series A round. The company is building a global payment orchestration platform.

Another Colombian FinTech to raise funds was Bold. The company, which helps businesses accept electronic payments, raised $55m for its Series B round.

PayTech companies are dominating the market, in terms of app downloads. According to research by FinTech Global, PayTech companies accounted for over half of the most downloaded FinTech apps in the country.

The second most popular sector was WealthTech, with 40% of apps on the list.

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