Costa Rican Fintech Company Impesa Receives $2.7M Investment for Expansion

Costa Rican fintech company Impesa announced the raising of a $2.7 million round of capital to drive an expansion plan in the United States, Mexico, and South America.

The company, which specializes in the control of financial instruments and software development, stated that it obtained the resources from contributions from current shareholders of the company and new international investors.

The lead investor, the company explained in a press release, was Invermaster Ventures. This Miami-based entity specializes in venture capital investments in the technology-financial sector.

A fintech (the union of finance and technology) is a company that provides financial services through the intensive use of technology; many times they do it on the fringes of financial groups.

As reported by Impesa, this is the third capital injection it has achieved since 2017. In that year, the main capital came from Dominican Agrega Partners, a co-managing firm of the INICIA Financial Services platform, which became a partner of the company.

Mario Hernández, CEO and co-founder of Impesa, highlighted the importance of the added partners in the firm’s development because they “add value” and serve as “a very important letter of introduction” to banks, regulators, and strategic companies, such as Visa.

He also pointed out that Impesa has shown sustained growth over the last four years, which makes it a very interesting option for international investors seeking to diversify their portfolios.

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The fintech comapny Impesa is ‘ready for expansion’ according to its CEO

Roberto Ponce, director of Invermaster Ventures, stated that Impesa is ready for exponential growth and expansion.

Through a press release, he stated that the Costa Rican firm created in June 2013 has the experience, the team, the history, and all the necessary ingredients to become a driving force in the region’s fintech and cryptocurrency payments ecosystem, both for institutions and retail consumers.

In turn, Hernandez highlighted that the new partnership with Invermaster will give Impesa access to a network of contacts and new business for growth.

“Our business model targets various market segments such as banks, corporations, and end consumers. We have products for each segment with specialized solutions that facilitate transactions with controls, e-commerce and we have a very clear innovation roadmap that we will carry out in 2022 and 2023″, he stressed.

Impesa was founded in 2013, in Costa Rica, and then expanded to Nicaragua, Guatemala, Panama, and the Dominican Republic.

Its main line of business has been offering software for the control of financial instruments and the development of tools to provide access to global platforms such as PayPal, Visa Direct, and cryptocurrencies, among others. The company created products such as Monibyte Saas and Monibyte App, Layla, Kipo, and Brainert.

According to the company, its current client portfolio includes more than 25 banks in six countries, 800 companies in the region, more than 6,000 small and micro e-commerce entrepreneurs, and more than 20,000 direct customers on the Monibyte Wallet.

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

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