According to El Mercurio, Chile’s growing crowdfunding industry moved over US$150M last year, helping startups and small businesses get the funding they need to grow. In comparison with popular US platform Kickstarter, Chile’s crowdfunding platforms tend to lean heavily toward crowdlending, with companies like Cumplo, RedCapital, and Becual leading the industry.
Cumplo, which on its own raised US$116M to invest in 1000 small- and medium-sized businesses in 2017, is by far the largest platform operating in Chile. However, Cumplo’s smaller competitors are growing. In 2017, RedCapital raised US$18M, 3.6 times more capital than they raised in 2016.
As crowdfunding becomes more popular in Chile, these fintech startups are looking to open their platforms to a global market.
Says Rodrigo Segal, co-founder of crowdfunding platform, Broota:
“There are a lot of foreigners interested in investing here, or in one of the six markets where we operate (USA, Mexico, Colombia, Argentina, Peru, and Chile). We would love to see the regional economies united for the greater good.”