Conekta, the scale-up of payment solutions and, closed at the beginning of March a round of investment for 13 million dollars, in which the fund Variv Capital, Femsa and investors from Silicon Valley with experience in the fintech sector participated. The capital will be destined to the development of a new application that will allow the end user to make purchases in stores and to increase its staff of collaborators, revealed Héctor Cárdenas, co-founder and CEO of the company.
“We are thinking of increasing our workforce from 20 to 25% immediately”
That’s what Cardenas said. Currently, the company founded in 2012 has 100 workers and already has two products: payment solutions with cards and cash payments (as). In addition, it has developed antifraud technology with which it has been able to reduce the chargebacks of its clients to less than 1%. The company that was also created by Cristina Randall and Leo Fisher has processed operations for 250 million dollars by 2018.
The third product to be created
The application will be its third product and its creation is due to the fact that, according to Conekta’s own data, 48% of payments in Mexico are still made in cash, since there is a sector of the population that still does not have access to financial institutions. Fintech has among its clients Grupo Financiero Banorte, Femsa and TeleVía, as well as technology companies such as Google, Uber, Rappi and Bitso, which total 2,200 affiliated businesses. The solution is under development and could be ready next June.
Cárdenas did not give details of the product, but clarified that it will not be a wallet
“We have 1.5 million users who already pay, for example, Google in cash. What we want is to take the money to the cell phone and that the transactions already made by the Conekta user can be done in a more secure and transparent way. With this product, the CEO of the company intends to multiply its growth by five.
A transformation had to show up
To achieve this, he decided to change the image of the company and modify its visual identity to present it to the market as a more friendly firm and close to users. The transformation consisted in the modification of the typography and the range of colors. In the previous logo, the colors that predominated were black, blue and orange. Now, the tonalities palette includes pink in two different ranges and white. These three shades color the letter ‘C’ that replaces the word Conekta.