Cobre Arrives in Mexico with Its Financial Management Offering

Cobre has landed in Mexico with the goal of revolutionizing how companies manage their finances. This Latin American platform, which already serves nearly 200 clients in the region, offers services such as banking centralization, immediate international payments, and real-time interbank transactions tailored to the dynamic Mexican market.

Having proven its effectiveness in Colombia, Cobre is now looking to expand its reach in the Mexican market. Since March 2024, the company has been operating a pilot program in Mexico, yielding promising results, including a reduction of up to 70% in the treasury operational workload for participating companies.

With its arrival, Cobre aims to end the year with at least 50 companies utilizing its services in Mexico, optimizing cash flow and enhancing operational efficiency. The platform allows users to consolidate multiple bank accounts into a single interface, simplifying international operations.

Cobre brings advanced financial solutions to Mexico

Cobre’s success lies in its ability to centralize all bank accounts within one platform. This eliminates the need to deal with multiple banks, streamlining operations and facilitating immediate international payments and real-time interbank movements. This tool is particularly beneficial for companies looking to optimize cash flow and accelerate global operations.

Cobre offers an intuitive interface that allows businesses to execute bank transfers and international payments with ease. Companies can now enjoy a more efficient financial management process, saving both time and money. It is estimated that users can save up to 50 hours monthly on bank reconciliations.

Growth and expansion in Mexico

Cobre’s entry into Mexico coincides with a $35 million Series B funding round led by Oak HC/FT. This financing will enable the fintech to expand its infrastructure in Mexico, where it aims to close the year with 50 companies using its services. Additionally, Cobre hopes to exceed 300 clients by the end of 2024, managing millions of transactions monthly.

The Colombian fintech has identified a critical need in the Mexican market: the centralization of banking operations without compromising security. Thanks to its partnerships with major local banks and its acquisition of a money transmitter license, Cobre is well-positioned to offer top-tier financial solutions tailored to the country’s specific needs.

Currently, Cobre is focusing on two types of businesses: multilatinas facing foreign exchange challenges and those operating between Asia and Latin America, where banking systems often conflict. With its arrival in Mexico, the fintech aims to continue transforming the way companies manage their finances in the region.