Tusdatosco Expands To Ecuador With 1m Investment
In a strategic move to tackle challenges like insecurity and mistrust in the public sphere, Tusdatos.co‘s founder and CEO, Santiago Hernández, announced the company’s expansion into Ecuador following a $1 million investment, with $300,000 already allocated to initiate operations. This expansion aims to extend the startup’s positive impact beyond Colombia by offering advanced data verification solutions to strengthen security and trust across the region.
Since its Ecuadorian launch in November 2023, Tusdatos.co has rapidly grown, securing an initial portfolio of 20 digital-transforming companies, leading to a 300% market growth in Ecuador by year-end. Hernández emphasized the need for Ecuadorian companies to have a partner in risk prevention and digital transformation, presenting a significant growth opportunity for Tusdatos.co.
The company offers a suite of services in Ecuador focused on background checks, counterpart verification, and identity validation to minimize risks, prevent fraud, and ensure compliance with legal norms while enhancing internal process efficiency. For 2024, Tusdatos.co aims to capture at least a 4% share of Ecuador’s market, consisting of over 100,000 companies, potentially generating around $1 million in annual recurring revenue.
Building on its success, Tusdatos.co plans a 200% growth in 2024 across Colombia and Ecuador, bolstered by over $15 million in sales and a strategic investment plan exceeding $10 million. The company’s foundation in 2019 has significantly impacted around 2,000 businesses, streamlining decision-making and saving time.
