Bold Raises US$40 Million to Boost Regional Expansion and SME Financial Services

Colombian fintech company Bold has announced a new $40 million investment round, led by General Atlantic, one of the world’s leading growth equity firms. The transaction also included participation from Cóndor Inverlink, InQlab, and the International Finance Corporation (IFC), part of the World Bank Group.

With this new capital, Bold aims to strengthen its operations in Colombia and accelerate regional expansion across Latin America. The company plans to broaden its payments and financial services ecosystem for small and medium-sized enterprises (SMEs), helping more businesses transition into the digital economy.

Helping SMEs Go Digital

Founded in 2019, Bold was created to help SMEs shift from a cash-based economy to a fully digital financial ecosystem. The platform provides a wide range of tools, including credit card and remote payment solutions, business loans, deposit accounts, and integrated management tools designed to simplify operations and improve efficiency.

Today, nearly 200,000 active users rely on Bold’s services each month. Through its technology, the company is helping business owners access financial services that were previously out of reach, empowering them to grow and compete in an increasingly digital marketplace.

A Mission to Empower Entrepreneurs

“Our mission is to unleash the potential of entrepreneurs across the region by offering them a unique financial experience, from the moment they receive payments to accessing loans that fuel their growth,” said José Vélez, CEO and co-founder of Bold. “We’re achieving this thanks to the support of top-tier global investors. We’re ready to transform the payments ecosystem in Latin America.”

Strategic Acquisitions and New Products

As part of its regional expansion strategy, Bold recently acquired VendeMás, a leading Peruvian payment facilitator owned by Niubiz, which serves about 30,000 monthly active customers. The acquisition marks a significant milestone in Bold’s efforts to extend its footprint beyond Colombia.

In addition, the company has begun offering Bold Account and profitability products for personal users, expanding beyond its traditional business focus. Through the app, Colombians can now access savings products such as Bolsillos and CDTs, reinforcing Bold’s goal of delivering inclusive financial solutions for both individuals and enterprises.

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(Featured image by Mariana Boscan Fernandez via Unsplash)

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