Argentine startup, Increase, made headlines in April 2018 when they won Google Demo Day in San Francisco. The fintech startup helps small businesses monitor their revenue from various sources so they can make more informed business decisions. Based on their success at Demo Day, where they won US$250K in investment, the company has attracted new investors to raise US$3M in their most recent round.
Agrega Partners, Revolution’s Rise of the Rest Seed Fund, Grupo Supervielle, Mercado Libre Fund, Arfintech, and Lucens Capital all participated in the round, as well as some of Increase’s previous investors. Increase will use the funding to expand into markets in Ecuador, the Dominican Republic, Uruguay, and Peru, and to launch new, simpler products that help small businesses manage their revenue.
Increase already operates in over 25,000 stores in Argentina, and hopes to reach 100,000 over the next 18 months. 70% of their users are still small businesses, although LATAM and Shell are some of their biggest clients.
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