LatamList – Global66, a Chilean fintech, raised a $12M Series A funding round led by Quona Capital. Magma Partners, Venrex Investment Management, Clocktower Ventures, and other angel investors also participated in the round.
Global66 is an online payments platform that provides remittance services across Latin America. With Global66, transfer rates are more affordable and transactions are much quicker to process.
The fintech currently operates in eight countries: Chile, Colombia, Peru, Argentina, Brazil, Mexico, Ecuador, and Spain. From these countries, Global66’s 290,000 clients can send money to more than 55 countries across the world.
“Latin America’s intra-regional money corridors are still very underdeveloped, for both consumers and small businesses. Traditional operators charge high rates from clients with poor pricing structures and bad user experiences, while regional banks cannot serve SME’s effectively,” said Rafa de la Guia, Principal at Quona Capital.
Global66 will use the funding to continue expanding regionally and to develop new products for launch in international markets, including the United States.
Read more on Bloomberg.
