The company has managed to reach just over 20,000 businesses in less than a year and expects to be able to reach 240,000 more.
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June
18, 2021
2 min read
Dapp, a Mexican financial technology company, raised $ 12.4 million in a series A investment round. With this capital, the fintech plans to consolidate its presence in the Aztec country and aspires to start the process to expand throughout Latin America.
The money comes from two mutual funds, which are G2 Momentum Capital and Kalonia Venture Partners. And, according to its founders, Antonio Peláez, Jorge Alfaro and Sergio Blando, they will use the capital to advance mainly in Mexico.
Dapp specializes in the interoperation of payments between merchants, banks and users. The company has managed to reach just over 20,000 businesses in less than a year and hopes to reach 240,000 more in another 12 months thanks to its alliances with institutions such as Banco Azteca, Citibanamex, Banregio, among others.
Likewise, they maintain a synergy with wallets such as Bitso, Broxel, Kueski, and Claro Pay. The founders do not rule out that this investment allows them to think about their expansion in Latin America.
The fintech started as a digital wallet , however, it has had a rapid evolution based on the needs of the local market; In this way, it became the strategic connection point where SMEs, large companies and users converge to make money transfers and payments easier, faster and more friendly.