Chilean fintech Destácame, which has been operating in Chile since 2014 and in Mexico since 2017, announced the closing of a Series B for US$10 million. The round was led by Banco Santander Chile, which was among its clients, with participation from Chilean VCs Kayyak Ventures and FEN Ventures.

In its social networks, the startup said that the capital increase will allow them to enhance its product for teams, a package of benefits that companies provide to their employees to «achieve financial well-being». Also, it will allow them to grow more in Mexico and increase their staff to reach 10 million users by the year 2025 (today, they have 4.5 million users). 

(Image: Destácame)

Destácame presents itself as a platform where people can understand their finances in a simple way, make better financial decisions, and access financial products according to their reality. 

It is part of the global trend of startups that, using technology, propose an alternative to traditional credit scoring systems, which tend to reward only those who are financially well off. By considering other variables, they manage to get a more complete picture of people’s behavior and thus allow access to credit and other financial products to those who used to be marginalized from the traditional banking system.

Main image: Sebastián Ugarte and Jorge Camus, co-founders of Destácame (Photo: Destácame).

You may also be interested in: Study Reveals Upcoming Trends for B2C Fintech in Latin America