Colombian Dale! – Grupo Aval’s strategic fintech created to compete with other digital options, secured an investment of $30 million from Grupo Aval to reach 5 million users in 2023.
In 2018, Grupo Aval began its process of product digitalization, the creation of ecosystems (mobility) and the automation of banking operations to reduce the cost structure. Now with Dale! – their own corporate fintech – the company is challenging the leading digital wallets in the market, Nequi of Bancolombia and Daviplata of Davivienda.
Dale!, the new digital wallet, has been so well received that it will close 2022 with just under one million customers who have made more than 3.5 million transactions. José Manuel Ayerbe, CEO of Dale! explained that with this investment in technology they intend to scale to 5 million users by 2023. Ayerbe, CEO of Dale! previously was vice president of marketing at Grupo Aval and arrived marking several milestones for the fintech.
Dale! has a license from companies specializing in electronic deposits and payments, so it does not need to rely on the infrastructure or licenses of any of the group’s banks. The digital wallet has enabled the users of its debit card, who do not pay a handling fee, to access the benefits of Experiencias Aval, such as pre-sales of the biggest concerts coming to Colombia. At the same time, the fintech is entering the banking as a service business vertical, which is used by allies such as Lifemiles and Plurall.
Dale!’s users, who number almost one million, can make free withdrawals at the 3,200 ATMs of the Aval Network, can recharge cash for free at the 25,000 banking correspondents of the Aval Network and can make free transfers to and from Grupo Aval banks. This corporate fintech reported that it will also enable the payment of public services and agreements in the wallet to increase the use of the wallet.