The company with Argentine CEO announces its new shareholders: Illuminate Financial, with the participation of J.P. Morgan, Citi, Barclays, BNY Mellon and the funds Exor Ventures, Madrone Capital, LTS Investiments, Arpex Capital and Overboost.
N5, the software company for the financial industry – which registers annual growth rates of 200% – managed to capture the attention of large investors in a recent round of financing, generating eight times higher interest than expected. With the capital injection, the company will seek to continue developing and meet the growing demand for its services.
“For some time now we have been experiencing an exponential increase in interest in our platform. This scenario pushed us to look for great partners that will allow us with their strategic vision, serve more customers and continue scaling our solution, “says Julian Colombo, CEO of N5, which has just announced the opening of 800 vacancies globally.
The executive, with more than 20 years of experience in banks, confesses that the list of interested parties has risen significantly, with clients requesting the service in advance, so, to provide them with an answer, they will use part of the capital injection to increase their presence from 15 to 25 countries.
The investors participating in the round are: Illuminate Financial, a venture capital firm that has Limited Partners (LP) from some of the world’s largest financial institutions, including J.P. Morgan Chase, Citi, Barclays, BNY Mellon, S&P Global and Jefferies; Exor Ventures, the venture investment arm of Exor N.V., a holding company controlled by the Agnelli family and shareholder of Ferrari, Stellantis, CNHI and The Economist; Madrone Capital Partners, a private equity firm associated with the Walton family, majority shareholders of Walmart; LTS Investments, the investment holding company of the Lemann, Telles and Sicupira families; Arpex Capital, the investment holding company of entrepreneurs André Street and Eduardo Pontes; and Overboost, an accelerator and specialist in the development of digital projects with more than eight years of experience in the venture capital market.
N5, the startup highlighted by Microsoft
Founded and directed by Colombo since 2017, the company aims to help banks, insurers and fintechs to make their operation profitable and prepare for the new demands of the sector such as the arrival of Openfinance in different regions. Its client portfolio includes companies such as Mastercard, Santander, Credicorp Bank, Zurich, Sudameris, Banco Atlas, N26 and BCP.
The N5 Now platform was recognized by Microsoft in 2022 for the benefits customers experienced by implementing the solution that allows to break down the natural barrier that prevents a bank from, for example, innovating, since it frees these institutions from the complexity of their legacy systems.
