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Contxto – Last Friday the 13th was a lucky day for five startups that were chosen for the “Endeavor Scale Fintech,” an acceleration program in Chile. It’s the first time that Endeavor, a global network for helping entrepreneurs, launches such an initiative in this Andean country.

Organizers received nearly 40 submissions among which the fabulous five—Migrante, JooyCar, Colektia, Mejores Condiciones, and Pago Fácil—emerged victorious.

The victors will now participate in a five-month long acceleration program where they’ll receive mentoring and prepare to scale. Moreover, Endeavor will seek to connect them to key partners and businesses so as to help them in the process. 

It’s expected that sometime in 2020, Endeavor will launch a similar initiative but for agtechs in Chile. 

Although certainly a lot of these plans both for Endeavor and the winning startups will also greatly depend on how the coronavirus pandemic evolves.

Related article: 18 startups in Chile transforming the fintech industry

Endeavor encourages fintech scene in Chile

While the five startups tender to different needs, they do share some common ground.

For starters, they are all based in Chile and are already operating. In their own way, each of the winners is connected to the fintech industry. Another common denominator is that they all want to globally scale their products.

Endeavor’s goal with this project is to encourage fintech development in Chile where it’s still relatively new. And it’s true, usually, Brazil, Mexico, Colombia, and Argentina soak in the spotlight when it comes to digital finance solutions.

By helping scale up its own startups, there will be a little more Chile in the fintech world.

Now, check out the winners and their upcoming plans.

Related article: FinteChile surveys over 70 fintech startups, releases findings


In many developing nations, it’s often perceived that by living in a place like the US or Europe, “you’re moving up in the world,” because that’s where opportunities can be found. But Migrante wants to show that its native country can also be hospitable to foreigners.

For that purpose it offers financial products and services to help immigrants soft-land into Chile. It uses data analytics to better understand a user’s financial background so as to offer credit lines that fits.

In 2020. It hopes to scale its way into Peru.


At first sight, this startup might easily be categorized as an insurtech. However, through its artificial intelligence (AI) and Internet of Things (IoT) tech, it’s helping companies and consumers save money. 

And that’s because its system develops customized insurance plans based on how responsible (or crazy) a person is behind the wheel. Good driving will set you at a more inexpensive policy.

The startup’s plan is to scale into the United States, a huge market both in terms of insurers and drivers.


Fintech Colektia uses AI to improve businesses’ collections processes. Thanks to its machine learning capabilities, the startup’s platform can study operations and then point out strategies in which it can be boosted. It also has a chatbot to boost efficiency so collections agents save time and focus on other needs.

The startup states to have 15 customers in multiple Latam countries including Chile, Colombia, Paraguay, and Mexico. It is in this last market where the fintech wants to gain a better foothold in 2020.

Mejores Condiciones

This fintech acts as an intermediary on behalf of a debtor to refinance mortgage loans with the bank that can offer the best terms. Because it’s all online, users can chat with bank executives and upload their documents from the comfort of their couch. Perfect for these pandemic-plaguing times.

Besides Chile, Mejores Condiciones can already be found in Peru and it hopes to enter Ecuador this year.

Pago Fácil

As its name in Spanish suggests, this fintech wants to make payments easy for small and medium-sized enterprises. Particularly for the completion of electronic payments within the e-commerce industry. Invoicing and integration into a business’ system is just a few clicks away.

Like Mejores Condiciones, Pago Fácil is already operating in Chile and Peru. Although in this fintech’s case, it wants to enter Colombia this year, then Mexico in 2021.

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