Destacame, a Santiago-based fintech with operations in Chile and Mexico, closed a Series B investment round for $10 million led by Banco Santander and with the participation of Kayyak Ventures, FEN Ventures and some local family offices.
Destacame is a fintech company that offers a suite of products to consumers to help them manage their financial life, including past-due debt repayment, graduating loans to help borrowers build or improve their credit history, consumer loans, credit cards, and free financial health tools. The ultimate goal of the fintech is to help millions of people in Latin America to improve their finances.
This new capital will allow the fintech to boost their product Destacame PRO for Teams, which is a package of benefits that companies deliver to their collaborators to achieve their Financial Wellness, enhance growth and capacity in Mexico, and increase the team and capacity to reach 10 million users between Chile and Mexico by 2025.
“Santander’s participation in this round basically validates that our business model is a great contribution to the financial system. The commitment they have for the people in Chile and Latin America to have financial stability is enormous”.
Jorge Camus, co-founder of Destacame
Camus was clear in explaining that Santander will not have any interference in the way Destacame works. In fact, the co-founder pointed out that the financial entity is inclined to have them work with more entities to continue improving their service and products.
“Financial well-being has always been a central part of our long-term corporate strategy, as well as the possibility for people to have access to digital products that meet their needs. This was what we also saw in Destacame, an innovative company, which has demonstrated leadership in this area. For this reason, we decided to support them so that they can continue to enhance their growth and increase the impact they have already generated both in Chile and Mexico.”
Daniela Espinosa, head of Santander Startups
Founded in 2015 by cofounders Augusto Ruiz-Tagle, Jorge Camus, and Sebastian Ugarte, Destacame raised $3M in a Series A round led by Fen Ventures back in 2019.
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