Chilean Paytech startup Koywe has acquired Facto to expand its US presence.

This move follows Koywe’s $2.5 million Seed funding round in January 2023. The acquisition terms remain undisclosed.

Facto’s founder, Mickle Foretic, brings valuable experience from the US Federal Reserve’s Business Payments Coalition. Koywe plans to use this expertise to introduce a new invoicing standard in the US market.

Koywe specializes in cross-border payments using cryptocurrency. The integration of Facto’s technology will help small and medium-sized businesses (SMBs) streamline their payment and invoicing processes.

Co-founder Ignacio Detmer sees this as a critical step for Koywe’s US ambitions, aiming for significant growth and broader connections across the Americas.

The acquisition enhances Koywe’s offerings, aligning with the broader ambitions of Latin American tech firms to expand internationally.