Chilean-based Fintual, an asset management platform that operates in Chile and Mexico, has raised US$ 15 million in a Series A funding round led by Kaszek Ventures on 26 June 2021.
Investors: In addition to Kaszek Ventures, other investors to date include Y Combinator, K50 Ventures, and Vilcap Investments. The company has managed to raise a total of US$ 15.9 million in funding.
Purpose of the funding: The company seeks to deploy the proceeds from the investment round to grow its operations in Mexico, expand to other countries-namely Colombia and Peru-and increase its tech team.
About Fintual
Fintual was founded in 2018 by Pedro Pineda along with Omar Larré, Andrés Marinkovic and Agustín Feuerhake. It is a mechanized investment platform that enables the average-earning individual in Chile or Mexico to invest in mutual funds containing ETFs (Exchange Traded Funds). These financial instruments are not widespread and readily available in Latin America. Clients of Fintual are allowed to invest by varied risk profiles and finance pathways through different investment instruments in Chile and Mexico. Fintual has US$ 500 million of assets under management, from over 57,000 clients, up from US$ 75 million just over a year ago. The Financial Market Commission regulates the company as a Funds General Administrator in Chile, and an Independent Investment Advisor in Mexico supervised by the National Banking and Securities Commission.
What the Founder has to say: “Our mission is to transform the fintech industry by building the tradition of savings and investment knowledge. Over fifty per cent of our clients have entered the domain of investment for the first time in their lives—our tech DNA assists in developing and expanding at a fast pace. We aim to serve people from all backgrounds in Latin America with an easy investment solution that aids them in securing an improved financial future. Apart from offering reasonable fees, we seek to provide explicit investment services that people can comprehend easily, with no jargon or confusion.”- Pedro Pineda, CEO and Co-founder of Fintual.
What the Investors have to say: “Fintual’s remarkable growth is impressive. We have been observing Fintual’s performance for a long time, and we are astounded by the well-placed market the team has explored. What is more delighting is the high-end user experience developed by the company which has, in turn, anchored its growth.”- Nicolas Szekasy, Co-founder and Managing Partner of Kaszek Ventures.
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