A Rosario-based fintech company is preparing to take the leap and expand the business to Uruguay. Two years ago, Maximiliano Isa Pavia created TuCuota.online, a startup dedicated to automated credit processes in financial companies and banks, so that they can participate in online tenders in affiliated businesses.
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TuCuota.online fintech project
The startup has already won a prize from the Central Bank for financial innovation, and now the project has been selected by the Uruguayan government to boost it through an accelerator.
TuCuota.online applied last year to the call in which the startup was selected from over 200 Latin American companies. “There were 233 companies that applied, and only 30 were selected to work for 15 days at the Technological Laboratory of Uruguay in Montevideo,” explained the owner.
The development functions as an intermediary in the loan market, so that financial institutions compete with each other for the loans requested by businesses, generating better conditions and rates.
TuCuota.online has managed to develop quickly
TuCuota.online fintech company was funded in Rosario, Santa Fe, Argentina, in 2018, and was recently awarded in Uruguay through Proyecta Uruguay, a program with more than 10 years of experience, promoted by the National Agency of Research and Innovation of Uruguay.
The entrepreneurs went through an acceleration phase of the project, during which they worked together with mentors who advised them in order to start the development of the startup in the neighboring country.
“Once established in Uruguay, the fintech company can expand to the rest of the world. TuCuota.online startup is quoting solutions to reach Paraguay, Peru, and India. In any case, the company will continue to sell in Argentina,” said Isa Pavia, who is in charge of development with his partners Gonzalo Fernández and Alejandro Robledo.
Uruguay to become a technological hub in Latin America
The entrepreneurs pointed to the neighboring country because they are aware that there are tax advantages and great political and economic stability to implement the project. “In terms of software, it is the country that is developing this sector fastest and allocates the most resources to it. Uruguay wants to become a technological hub in Latin America,” said Maximiliano Isa Pavia.
TuCuota.online provides software services that enable professionals and small businesses to offer both online and at different points of sale loan alternatives, according to the credit profile of their client.
In addition, it allows financial entities to offer their loans in the businesses associated with the network. They are in contact with mutuals, fintech companies, banks and are currently creating a network of businesses so that the financial companies that work with them can offer loans.
TuCuota.online founders said business plans are important in order to succeed
The entrepreneurs, owners of TuCuota.online, also advised companies and investors who want to enter the fintech business through business plans and consulting. In 2018, they were awarded by the Central Bank in a financial innovation contest.
“I started the company in the incubator of the University of Virginia, Darden Business School, where I did an MBA, and then I came to Argentina to implement the solution,” recalled the entrepreneur. The objective of TuCuota.online is to help financial users find better and more credit opportunities.
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