– The startup manages over $1 billion in monthly invoices with nearly 1,000 clients including major industries.
- Prepares for further expansion into Mexico or Peru by 2025 following potential new funding rounds.
Founded in 2017, Duemint, a Chilean fintech company, is preparing to take a significant step in its growth trajectory by expanding its operations to Colombia and introducing a new AI-based risk analysis model.
With a focus on automating financial operations for businesses, particularly in accounts receivable and payable, Duemint has evolved into a comprehensive SaaS platform. This platform connects with various data sources, including tax services and banks, to streamline financial processes for nearly a thousand clients, such as Sky Airlines and Wom.
The decision to expand into Colombia was driven by favorable regulatory conditions and the presence of existing clients in the market. The company plans to set up an office in Bogotá and is considering relocating one of the founders to oversee operations. This move is part of a broader strategy to also target potential expansions into Mexico or Peru by 2025, depending on the outcome of their next funding round.
In terms of product development, Duemint is set to launch an AI-powered model for risk analysis within this quarter. This model will utilize the extensive data already available on their platform to provide enhanced insights and services to their clients. Additionally, by the end of the year, the company aims to introduce a new feature allowing third parties like banks and factoring firms to purchase invoices directly through the platform, further simplifying the financial dealings of their clients.