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Rextie, a currency exchange in Peru, announced an investment round of US$1.4 million led by the mass media Grupo RPP. With this capital, it will strengthen its business in its home country and expand operations to others in the region.
The company will also use this investment to expand its team, invest in technology and innovation and provide a more specialized service to its customers.
Grupo RPP also made a “media for equity” investment, which is in exchange for advertising. This means that Rextie will be able to have a media presence on the group’s national radio stations as well as on its eight Internet sites and one television channel.
What’s Next for Rextie
Claudia Quintanilla, Mateu Batle Sastre and Matías Maciel created the fintech company in 2016 in Peru. They seek to reach US$4 billion in transactions this year, calculating from when they started.
So far, the company says it has already reached one million operations and more than US$2.4 billion in transactions. It also has self-developed tools such as Factoring, Dollar Analytics, Rextie Business and an alliance with Visa.
With this alliance, Rextie was able to implement technology so that the currency exchange can be done just through its application. Before this, it required you two use two different applications (Rextie and digital banking).
In September 2021, CEO Matías Maciel said that a remittance service would be launched during the first quarter of 2022. With it, customers would be able to receive remittances from US$200 to US$5,000 on average.
At the time, the CEO also mentioned that his expansion plans included Mexico as a first step.
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