The Salvadoran fintech Cubo secured USD$3.5 million from IDB Lab to expand to Guatemala and develop digital payment solutions for micro, small, and medium-sized enterprises in Central America.
Cubo’s payment platform is versatile and can handle card transactions through different methods, such as point-of-sale systems, payment links, and QR codes.
Cubo connects with over 10,000 businesses in Central America, where 40% are led by women, aligning with Cubo’s goal of achieving regional financial and technological inclusion.
The digital payment application for micro and small businesses has entered the Guatemalan market, known for its potential in financial and technological inclusion in Central America.
Cubo, a fintech startup originating from El Salvador, was established in 2021 and has experienced an average monthly growth of 45%, according to a press release.
Providing inclusive payment solutions for micro, small, and medium-sized enterprises in the region, Cubo offers various options, such as Cubo POS, payment links, QR codes, and the ability to transact with Bitcoin.
After successfully establishing itself in El Salvador and Panama, the company now officially begins operations in Guatemala, aiming to boost the adoption of digital payments in local businesses.
Guatemala, with its diverse and expanding ecosystem of micro, small, and medium-sized enterprises (MSMEs), presents itself as a favorable market for the positive acceptance of the application.
Gabriel Gutiérrez, co-founder and CEO of Cubo, highlights the country’s potential and its strong entrepreneurial tradition.
“Our goal in Guatemala is to empower micro and small businesses through effective digital transformation, facilitating various payment methods and supporting their growth and consolidation,” explained Gabriel Gutiérrez, co-founder and CEO of Cubo.
Cubo’s aim is to provide advanced technological solutions that empower businesses, bringing MSMEs closer to tools that facilitate effective digital transformation.
Registration and activation on the platform are instantaneous; only download the application, register, and start accepting card payments.
Cubo facilitates payment acceptance through various forms, such as POS, payment links, and QR codes, being intuitive and accessible.
For those who prefer in-person card payments, the fintech offers Cubo POS, a portable, rechargeable, and secure device for Visa or MasterCard, with Bluetooth connection to mobile devices.
