Investment

Wayra-accelerated fintech startup, Culqi, raises US$500K seed round

In a story brought to our attention by LAVCA, Peruvian payments platform, Culqi, has closed a US$500K seed round from Angel Ventures Peru. Culqi previously raised capital from Wayra Peru and from Startup Peru in 2014, 2015, and 2016.

Culqi is an online payments gateway that allows businesses to accept credit and debit cards on their websites and apps. They currently have over 2000 clients in Peru, including Telefonica and Claro, insurance companies, e-commerce retailers, government institutions, logistics, travel companies, and education providers.

The gateway focuses on user experience and simple integration with websites to improve conversion. It is particularly targeted toward developers because it provides tools and APIs to help minimize the amount of code needed to develop a new platform.

Culqi will use the fund to expand regionally, starting operations in Chile, Mexico, and Colombia in 2018.

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