The firm, which is present in more than 15 countries, is looking for software and professional services companies related to the financial sector, which already have an annual revenue of at least $1 million.
N5 — the technology company specializing in the financial industry, which is funded by JP Morgan and Citi — seeks to accelerate its growth in Latin America and promote innovation in solutions for this ever-changing industry. To this end, it will disburse approximately 20 million dollars in the acquisition of companies throughout the year, including Peru.
In detail, the company – present in more than 15 countries – announced its new expansion strategy through the acquisitions of software and professional services companies related to the financial sector. Specifically, it is looking for those who already have an annual income of at least $1 million.
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“Our focus is, and always will be, to offer something differentiated to our customers. And while N5’s philosophy is to build all the technology, there are some specific functionalities that we can complement more quickly in our solutions with the help of other skilled companies,” explains Julián Colombo, CEO and founder of N5.
The investment in companies follows an investment round announced in September 2023.
The multinational details that it has already started conversations with potential candidates and continues to look for other companies.
Likewise, N5 projects a growth of 300% by 2024. Last year alone, it saw a 275% increase in its number of customers. Along these lines, in the first weeks of 2024, it added more than six major names in the Latin American financial industry to its client portfolio, which already includes companies such as BCP, Santander, Interbank Mastercard, Itaú and BCI.
