The multi-corporate regional investment fund Kamay Ventures announced its 12th investment. It is INI , the platform of Argentine origin that links virtual payments with alternative connectivity networks, such as radio frequency, to be able to carry out transactions in remote areas.
In Latin America, 7 out of 10 businesses do not have the ability to offer digital payment options to their customers. In this context, INI developed its as-a-service and white-label payment infrastructure that offers a platform with financial tools that reach both urban centers, where networks may be collapsed, for example, due to a massive event; as to areas where the internet connection is limited or non-existent. In this way, it becomes the only company worldwide that can process payments with and without connectivity.
“INI offers a unique and revolutionary solution. We are impressed by its ability to overcome geographic barriers and bring digital payments to remote and hard-to-reach areas. From Kamay Ventures, we will work together to transform the way transactions are carried out and allow more people to benefit from virtual payments”, said Antonio Peña, Managing Partner of Kamay Ventures.
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Why Kamay Ventures invests in INI
The platform INI seeks to bridge the gap between the digital and physical world, combining the advantages of both to reduce financial exclusion. Its solution integrates cash and online payments in the same technology to expand and facilitate your possibilities.
In addition, INI encourages clients to move into the fintech world: its integrated system helps create frictionless payment ecosystems with a precise dashboard to monitor and control the entire experience. Its disruptive technology provides a dashboard that identifies distributors, businesses and cashiers, and allows assigning and customizing rules according to the characteristics and needs of each business and its franchises.
“We want to expand throughout Latin America and for our clients to have solid solutions. With capital injections like the one from Kamay Ventures, we can strengthen our products and services, and expand our operations to the rest of the region,” said Enrique Cortés Funes, co-founder and CEO of INI.
Along with customization, the collection application also offers Android POS terminals and access to microcredit. Likewise, it improves collection at points of sale and is regulated by PCI standards to provide a service that prioritizes data security and the protection of all transactions.
Currently, the startup operates from its headquarters in the United States and its services extend in Mexico and Argentina to clients such as Shell, Banco Comafi, Diario La Voz, Coca-Cola Latin America, and Grupo Arcor.
Together with Kamay Ventures, INI will seek to scale the business and continue its strategic plan:
The company will gradually start operations in Colombia, Chile, Peru, and Brazil; increase the hiring of human talent and strengthen the sales teams so that they overcome the challenges of each market. The fund will also provide validation and opportunities to generate strategic alliances to access competitive rates through integration via API with different acquirers and local connection interfaces.
INI is the third investment by Kamay Ventures in financial services, accompanied by the Mexican startup Retypay and the Ecuadorian Altscore, proposals that change the relationship between businesses and users with credits and payments, and reverse how this infrastructure is conceived in a region where cash still dominates. Its disruptive approach is added to the other projects in the portfolio: Wiagro, Auravant, Zippin, Kilimo, Webee from Argentina; Ruedata is Colombian-Mexican; BACU from Colombia; and Aerialoop from Ecuador.
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First published in LA NOTA ECONOMICA, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
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