KEO World, a B2B Buy Now, Pay Later fintech, announced it closed a $20M equity round led by Montreux Growth Partners. Other participants were Mayberry Investments, Avior, and Hayfin Capital Management.
The fintech supports over 16,000 businesses in Mexico, Colombia, Peru, Ecuador, Dominican Republic, and the U.S. KEO World’s goal is to facilitate business growth for small and medium enterprises. It offers businesses supply chain financing through BNPL solutions. Also, through a seamless online approval process, customers can get a virtual KEO card and credit line to finance their key supplies.
According to Dan Turner, Managing Director at Montreux Growth Partners:
“KEO World has developed a highly innovative, B2B-focused approach to the Buy Now, Pay Later industry, and we’re very excited to support the company as they expand into new territories and continue to innovate their BNPL platform (…) KEO World’s mission to digitize BNPL practices and empower SMEs is enjoying strong market traction, and we are confident that this new capital will allow it to successfully expand its business into new markets across the Americas.”
With this new funding, KEO World will expand the company’s operations, particularly its Workeo program which offers SMEs inventory financing. Paolo Fidanza, the startup’s Founder and CEO, points out:
“This growth equity investment will provide the company with the funding to expand the Workeo offering to more businesses and territories, and to enhance our infrastructure and proprietary BNPL platform to support faster growth and to meet our customers’ needs (…) Our Workeo program fills a major gap in the working capital requirements for SMEs, and over the past year we have experienced incredible growth in transactions and SMEs using our all-digital credit solution for their inventory purchases.”
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