Fintech startup Cobre offers a solution that centralizes the financial operations of companies in Colombia. Founded in 2020 by Jose V. Gedeon, Felipe Gedeon, Jose Donato, and Alberto Chejne, the company not only streamlines the financial processes but also simplifies and automates payment methods. It connects company finance systems with Colombian banks through an API, making transactions both quicker and more straightforward.
This new investment round, led by Kaszek, will be used to improve Cobre's current technology. The aim is to refine their services and offer users a smoother experience when handling their finances. This USD $13M round makes Cobre's total funding amount USD $31.2M. Cobre has seen a significant growth of 600% in revenue just in the first half of 2023
"In simple terms, we aim to make financial transactions easier and more transparent for companies. We believe that with this new investment, we can reach and help more businesses in Latin America," -Jose V. Gedeon, CEO of Cobre.
Looking ahead, Cobre plans to start its services in Mexico by 2024. They also hope to increase their partners and overall transaction volume. In a relatively short time, they've built solid relationships with many large businesses in Colombia.
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