Krealo, the Corporate Venture Capital arm of the financial giant Grupo Credicorp, has strengthened its investment portfolio with a new acquisition: the fintech Plurall, based in Colombia. This move marks Krealo’s ninth regional investment, underscoring its active strategy and interest in promising startups.
Plurall is not your average startup. It aims to promote financial inclusion for entrepreneurs from various sectors, providing them with essential tools for their growth. This includes access to flexible microloans for working capital, a fully digital account, and a debit card with which they can make interest-free transactions.
What truly stands out about Plurall is its innovative approach to credit approval. Since its launch in May 2022, the company has used data and artificial intelligence on an exclusive platform to assess and grant loans. This system is designed to understand and cater to the individual needs of each customer. Additionally, Plurall is about to launch an Integrated Finance product aimed at leading partners in electronic billing, e-commerce, and accounting.
Krealo and Plurall’s Perspective
Adolfo Vinatea, Krealo’s CEO, expressed his enthusiasm for this investment, highlighting Plurall’s strengths.
“We invested in Plurall because of the team they have built and their mission to serve micro-businesses in the region with a digital business model, leveraging disruptive technologies and models. We hope to realize synergies that benefit both Plurall and Credicorp”.
Krealo’s investment objective is clear: to add strategic value to Grupo Credicorp. They seek to strengthen their current operations, expand into new areas and markets, and simultaneously explore cutting-edge technologies that can lead to future business models.
For its part, Plurall sees Krealo as much more than just an investor. Federico Gómez, Co-founder and CEO of Plurall, expressed his gratitude and recognition towards Krealo.
“We are proud to have such a significant and representative ally in Latin America as Krealo. Their support will boost our growth process in Colombia and bring our product to many more entrepreneurs. We recognize in Krealo an ally with immense experience that brings invaluable value to our team”.
Krealo’s investment in Plurall is not just another acquisition for the group. It’s a clear indication of their commitment to innovation and to supporting startups aiming to make a difference in the financial world. The figures and data on this capital investment have yet to be officially released, so we will look for information that emerges in the coming months.
It’s worth noting that according to a study published by Finnovista in collaboration with the Inter-American Development Bank (BID), Colombia is the third country in Latin America with the most fintech companies, establishing itself as one of the most relevant sectors within the industry. Hence, it’s unsurprising that significant investments and innovations have been made within the country this past year, such as Krealo’s investment in Plurall.