LatamList – Quansa, a financial services startup, raised a $3.6M funding round led by Valor Capital Group. Pear VC, Canary, Norte, Magma Partners, Sequoia Scouts, and various angel investors also participated in the round.
Quansa is a platform dedicated to improving the financial health of employees in Latin America.
“Debt in Chile exceeded 76% of salaries in 2020,” said Mafalda Barros, co-founder of Quansa. “70% of workers feel that they have no control over their finances, which translates into financial difficulties in paying bills and getting out of debt situations.”
To combat these issues, Quansa provides financial education alongside financial management tools. Customers are able to better understand their money and make better decisions, as well as give peace of mind.
“It’s just as important to understand how to manage your money as it is to have access to these services. We teach users how to organize and manage their bills, use financial tools, start saving, and of course, to spend better,” said Mafalda.
One of the most important ways to improve financial health is the offer of flexible salaries for employees. The feature helps customers to be in a better position when unforeseen emergencies, such as unemployment or illness due to the recent pandemic, arise.
Quansa will use the new funds to continue regional expansion in Chile, launch into Brazil, and grow their executive team.