Cubo, a Salvadoran fintech, successfully raised $3.5M in a seed round. Banco Interamericano de Desarrollo’s BID Lab led the round with additional participation from Amador Holdings, Soma Capital, Latin Leap, and Seedstars.
The fintech startup will use the funds to help the success of SMEs in Central America through payment digitalization. Cubo’s point of sale (POS) system allows businesses to accept Credit Cards, QR Code, Bitcoin, and link payments.
“Our mission has always been to empower small and medium-sized businesses by giving them access to tools that help them digitize and grow their businesses. With this new injection of capital, we are one step closer to achieving our goal of creating a more inclusive financial ecosystem where all companies have the opportunity to prosper.” said Gabriel Gutiérrez, Cubo’s CEO.
Cubo has over 8K affiliated businesses to date, of which 70% of them never had a POS system before.
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