Fintech Yuno raises $10M for online payments solution

The Colombian fintech Yuno announced a $10M seed funding round after only two months since launch.

Yuno is a payments startup that offers companies an easy online checkout solution.

The fintech Yuno is led by some of Colombia’s most experienced entrepreneurs, including Juan Pablo Ortega, co-founder of Rappi. Ortega built and scaled Rappi’s financial arm RappiBank.

Yuno raised an initial investment from a16z following the firm’s accelerator program for fintech startup founders. The seed funding round is co-led by Monashees and Kaszek, who also invested in Rappi.

With Yuno, Ortega and co-founder Julián Núñez aim to offer customers a range of payment processing options that are secure and that integrate well with online platforms. Yuno comes with fraud detection tools alongside its payments software to ensure security for companies and customers at checkout.

“Accepting and optimizing online payments shouldn’t be a pain for companies. We want to build the ultimate solution to help them make online checkout fast, easy, and safe, so that companies can focus on their core business,” said Núñez.

The fintech is already working with a number of large e-commerce companies in Latin America, including Rappi. Many of the startup’s employees also come from other fintech or Latam companies, such as Worldplay, Rappi, Ingenico, and Mastercard.

“We are bringing the most talented people in the region to tackle this huge opportunity across Latam,” said Ortega.

With the new funding, the fintech Yuno will focus on expansion, starting with Mexico, Brazil, and Colombia. The startup also expects to make new hires to grow its team to around 100 employees this year.

Read more on Latam Fintech Hub.