The fintech sector continues to transform key industries and provide innovative solutions across various markets. In this edition, we highlight three recent developments that demonstrate how these technologies are empowering specific sectors.
Platam:
Accessible loans for small businesses
The Colombian fintech Platam is gaining ground by offering affordable and easy-to-manage credit for small businesses and microenterprises. In Colombia, micro, small, and medium-sized businesses (including local shops) represent more than 95% of the domestic economy and generate 79% of local employment. The fintech’s focus is on serving sectors that have traditionally faced barriers to accessing formal credit. The platform uses an agile digital model, with simplified procedures and risk analysis based on technology. This facilitates access to financing and also promotes the formalization of small businesses, a crucial step for their growth and sustainability.
Niche Products:
A platform for the pharmaceutical industry
Farmapay is an Argentine B2B fintech exclusively designed for the pharmaceutical industry, integrating the entire value chain (laboratories, distributors, drugstores, and pharmacies) into a single payment and collection platform.
This development aims to digitize key processes such as inventory financing and supplier payments, which are crucial for ensuring efficiency in such a sensitive industry. The solution allows laboratories, pharmacies, and distributors to improve their cash flow, reduce operational costs, and simplify financial management. In Argentina, there are approximately 14,000 pharmacies with a transactional volume of around $7 billion. This advancement promises to transform an industry traditionally dominated by more rigid financial systems. The CEO of this new company is Sergio Chiossone.
The Nicaraguan fintech Tumoni, which offers commission-free remittance services for migrants and their families living in Central America, has announced the successful raising of $2.29 million in a pre-seed investment round.
This platform aims to address two critical issues: the lack of accessible banking services for Central American migrants in the United States and the high costs associated with sending remittances to their home countries. Additionally, the platform facilitates the financial inclusion of this population by providing access to digital accounts and basic financial services. This model not only reduces costs but also creates opportunities to strengthen the economy of recipient households and the region as a whole.
