Chile-based HR tech Buk acquired the fintech Bemmbo to enter financial services space and launch Buk Finanzas. The companies did not disclose the price of the acquisition.
Bemmbo, founded in 2021, automates collections, payables, expense reports, and bank reconciliations for SMEs. The fintech grew sales 5x in the last two years and serves over 100 clients in Chile.
Bemmbo’s full team joins Buk as part of the deal. Founder Rodrigo Oyarzún will lead Commercial for Buk Finanzas, while CTO Cristóbal Dotte will head Engineering. Buk plans to double the team to speed up product development and develop more synergies between their existing HR product and their new finance product.
The move follows Buk’s other acquisitions, including Boost (training), Ctrl (attendance), and Payflow (salary advances). Buk also raised a US$50M series B earlier this year.
Read more on: Diario Financiero
