Keep up to Date with Latin American VC, Startups News
Argentine fintech N5, which helps banks, insurance companies, and other financial institutions connect their existing systems, such as CRM, payments, and regulatory compliance, among others, in one place; has announced the raising of $20 million in an investment round that was supported by Endeavor and Alexia Ventures.
With this injection of capital, they will seek to accelerate the evolution of the Artificial Intelligence area and the development of their AIfred, Pep and Singular solutions, designed with this technology for the financial sector, as well as the expansion of N5 to other markets.
The company added Alexia Ventures, a fund that invests in software and artificial intelligence companies in Latin America, and Scale-Up Ventures, Endeavor’s venture capital fund.
“The extension of this round reinforces the credibility of our work, the confidence that the market has in our value proposition, and the impact we are generating in the industry,” said Julián Colombo, CEO of N5, “that is why we believe that this injection validates our vision and encourages us to continue transforming our ecosystem through technology,” Colombo adds.
In addition to strengthening and accelerating innovation in Artificial Intelligence, the CEO of the fintech states that with this support, they will also continue to accelerate their international expansion through the “N5 Partner Network” program to respond to the growing global demand for their technology, delivering even more efficiency and value to their customers around the world.
Since its founding in 2017, N5 has stood out for its main product, N5 Now, an end-to-end platform that integrates all the essential software for the operation of financial institutions, such as CRMs, BPMs, incentives and omnichannel. Its clients include institutions such as Itaú, Mastercard and Santander.
According to company figures, in the last year, N5 doubled its size again and expanded its operations to Peru, Chile, Mexico and the Dominican Republic, reaching a total of 18 countries. This growth was accompanied by a 54% increase in its technology team and by the acceleration in the development of its Artificial Intelligence solutions, which are revolutionizing the way banks and fintechs operate.
“When we met Julian and the customers using N5, we were absolutely blown away by the impact the platform is having on the transformation of the financial sector,” said Patrick Arippol, Co-founder and Partner at Alexia Ventures, “N5’s artificial intelligence is not a promise for the future, but is at the heart of the platform, revolutionizing the relationship between banks and their customers,” added Arippol.
With exponential growth and a complete commitment to innovation, N5 continues with its mission to revolutionize the financial sector through technology, consolidating itself as a strategic partner for institutions that seek to maximize productivity, reduce costs and improve the customer experience.
