Divilo, a pioneering fintech in payment solutions, has closed a Series A funding round of EUR €6 million, propelling the company’s total funding to 12 million and valuing it at over 50 million euros. The funding round is evenly split: three million euros are convertible, and the remaining comes from angel investors.
Started by Juan Guruceta in January 2020, Divilo has ambitious plans for these funds. The company aims to broaden its footprint not just in Europe but also in Latin America, thus extending its reach and solidifying its market stance. Additionally, they are targeting profitability by 2024.
The extra capital will bolster Divilo’s global mission. The firm is centered on sustainable growth and customer retention through the continual enhancement and evolution of its flagship product, Tap to Phone, and the technological infrastructure supporting it.
Divilo has processed a staggering transaction value of over 50,000 million euros in just three years, with over 500,000 individual operations. These figures underscore the company’s success and position it as one of the most promising startups in the fintech realm. Currently, Divilo boasts a dedicated team of 27 employees.
Celestino García, CEO of Divilo and former head of Samsung in Spain, emphasized the significance of this funding, expressing that the financial boost is a pivotal step toward Divilo’s vision realization. The firm aspires to establish its payment solutions, especially the Tap To Phone Deveep app, as a standard in the domestic and international payment landscape.
One of the app’s distinctive features is its versatility. Not only is it swift and functional, but it also excels in usability. Moreover, its design allows businesses to customize it, integrating their brand identity, thus turning it into a valuable interaction tool for users.
Fintech continues to solidify as one of the most significant sectors for startups in the region, and it’s precisely in this context where Divilo seeks to establish itself on the American continent. According to data collected by Statista, there was a notable rise in fintech startups in the Americas between 2018 and 2021, increasing from 5,686 to 10,755, outpacing other global markets.