Chilean Fintech Cumplo will arrive in Colombia

Cumplo entered the market and became one of the pioneering fintech companies in Chile. It recently surpassed USD$2 billion in financing for small and medium-sized enterprises (SMEs).
Cumplo is one of the pioneering fintechs in Chile. It recently surpassed USD$2 billion in financing for SMEs.

12 years ago, Cumplo entered the market and became one of the pioneers in fintech in Chile. Recently, they surpassed the milestone of USD$2 billion in financing for small and medium-sized enterprises.

This achievement has been highlighted by its founder and president, Nicolás Shea, who also emphasizes that they have surpassed 100,000 transactions in the three markets where they currently operate: Chile, Mexico, and Peru.

These positive results support the startup’s vision, and its goal is to continue expanding internationally.

Shea revealed that they are already working on their next international expansion, choosing Colombia as their fourth market, with which they have had some discussions.

Cumplo was a company built for the long term and with a regional vision. Furthermore, it is part of the Pacific Alliance, and we are already in the other three markets, so there is a complement,” Shea explained.

Colombia is an attractive market for Cumplo, as it has numerous SMEs that require access to financing.

In their plans, the fintech does not rule out the possibility of further global growth, even considering the possibility of entering the United States.

“With Cumplo, we are solving a substantive problem, which has to do with accelerating the growth of SMEs, as the major constraint to realizing their potential, often the only one, is access to capital,” added the president and founder.

Cumplo CEO, Gonzalo Kirberg, highlights that, according to their most recent impact study, they experienced an 80% growth in sales last year, and their associated SMEs achieved between 50% and 80% growth, despite the economic situation.

In addition, Cumplo has added two new directors: Kathleen Barclay, president of Endeavor Chile and director of AmCham; and Mario Solari, a partner at Genesis Investment Management.

For 2023, Shea projects reaching USD$150 million in assets under management, as they already have USD$135 million.

As for financing, Kirberg mentions that they expect to reach USD$800 million. Currently, Cumplo operates in Chile, Peru, and Mexico.

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