The Venezuelan fintech Ubii announced it closed its first investment round at $4.5M. Ubii offers point-of-sale systems and an app for Venezuelans who either live in Venezuela or abroad.
With Ubii’s app, Venezuelans can make local payments, and migrants can send money to their relatives in Venezuela. Ramón Velásquez, CEO and founder of the company shares:
“We are very happy with the investment in the business model we have built, and we are proud, as Venezuelan entrepreneurs, to receive the trust of investors who believe in the fintech development of the country.”
The startup is focused on financial inclusion and on developing state-of-the-art payment solutions for individuals and businesses. Another sector of great interest for the company is the corporate sector. As part of its B2B service, Ubii issues cards for banks, fintechs, crypto exchangers, airlines, retailers, or any company that wants to add value to its customers through this financial instrument. According to Ramón Velásquez,
“With this round, we will invest in the acquisition of users, working capital, and the integration of new talent, which will allow us to develop new products and strengthen our payment infrastructure.”