Brazilian buy now, pay later (BNPL) Koin raised $7.3M through a FIDC fund structured by Itaú.
Owned by Argentinian group Despegar, Koin will invest in expanding its Buy Now, Pay Later services, focusing on tourism sector loans.
With Koin, end customers can split payments into up to 12 installments using PIX. Koin also offers anti-fraud protection systems for retailers and a marketplace.
Founded in 2014, Koin totals over 400 daily transactions with an average ticket of $500. The fintech has over 1,000 retailer clients in 8 countries in Latin America.
Read more on Latam Fintech Hub and Exame
