Connect with us

Featured

The Colombian fintech company Bold joins the Endeavor network

The Colombian fintech company Bold, which seeks to facilitate access to financial tools for small and medium enterprises, was selected to become part of the Endeavor network of entrepreneurs. Through dataphone, customers can receive payments with debit and credit cards in less than 24 hours. The app allows them to check their earnings and expenses from a smartphone and own their own dataphone.

Leah Marie Angelou

Published

on

This picture show a person holding a phone and a dolar bill.

The fintech company Bold, founded by José Fernando Vélez, co-founder of PayU, and Ana María Sandoval, was selected to become part of Endeavor, with which this prestigious network consolidates a portfolio of 48 companies and 87 entrepreneurs in the country. 

“Endeavor’s global movement is transforming economies, one entrepreneur at a time,” said Edgar Bronfman, Jr., General Partner, Accretive LLC; Chairman, Endeavor Global

According to Endeavor, the decision was made after the organization’s Board of Directors in Colombia approved Bold’s entry into the network and Sandoval’s entry into the list of entrepreneurs, to which Vélez had belonged since 2010. Back then, he was selected in the 30th International Selection Panel (ISP) with PayU Latam, a company which was later acquired by South African multinational Naspers. 

“Endeavor Colombia will support and drive the growth and market positioning of this company so that it becomes a high impact enterprise that contributes to the economic development of the country and inspires the next generation of entrepreneurs,” said the network. 

José Fernando Vélez is one of Colombia’s most prominent entrepreneurs. He was one of the founders of PayU, is an angel investor and passionate about creating companies in the fintech world

The fintech sector is developing at a rapid pace and new tools and platforms are launched on the market. You can read more about the latest developments in the fintech sector and find the most important business news with our companion app, Born2Invest. Our mobile app is available for free, for both Android and iOS devices.

Born was created to offer financial tools for SMEs in Colombia

Vélez recently founded, together with Ana María Sandoval, the fintech company that specializes in offering financial tools for small and medium businesses in Colombia, Bold. The company was created after these two entrepreneurs with extensive experience in the financial sector decided to partner to rethink electronic payments in the country. 

SEE ALSO  Why impact investors are turning to gender lens investing

In fact, Vélez and Sandoval consider that the procedures that most financial entities requested to specifically provide a dataphone were excessive. They also knew that more and more people were accessing debit and credit cards, but the vast majority of companies did not accept electronic payments. 

Thus, Bold seeks to help Colombian entrepreneurs grow by offering them modern, easy-to-use and affordable financial solutions like the dataphone. Through this device, customers can receive payments with debit and credit cards in less than 24 hours allowing them to check their earnings and expenses from a smartphone and own their own dataphone. 

The company prosmises no fees for Bold users

Bold promises to eliminate contracts and monthly fees, as well as provide an affordable price for merchants who, in times like these, are looking for solutions that fit their core business, so the device is available from $99,000. 

The use of the tool is quite simple. According to the founders, merchants must have a smartphone or tablet, download an application, and register as a user. Then, with the dataphone, which has a bluetooth connection, they will be able to make and record national and international credit and debit card contactless transactions.

__

(Featured image by fotoblend via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Dinero, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.

Leah Marie Angelou is an LGBTI activist and equality advocate. She has been a writer for several feminism-focused groups for nearly a decade. Her pieces are often focused on career development and the workplace. She also regularly covers personal and micro-finance, business management and entrepreneurship. Recently she has also focused on covering the promising CBD and hemp industry.