As part of its strategy to fuel its growth, the company plans to invest in technology organizations. Where interested entrepreneurs can register. Details in the note.
20 March 2024 15.30
Technology company N5 announced its growth plan, which involves acquiring Argentine software and professional services firms linked to the financial sector. The company will focus on those that report annual revenues in excess of $1 million.
This strategic move aims to strengthen its influence in Latin America, stimulate its development and foster innovation in a sector that is constantly evolving. To achieve this, N5 will invest US$ 20 million during the year and has set up a form for interested companies to request a preliminary assessment.
N5 CEO and founder Julian Colombo emphasized, “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.”
With a robust structure to meet high customer demand, N5 sees these acquisitions as an opportunity to develop solutions increasingly tailored to the specific needs of the industry.
The buyout strategy aims to boost N5 to consolidate its market leadership and accelerate its growth. The investment in Argentine companies follows an investment round announced in September 2023.
“We have always been a company that acts with great caution, spending considerable time before making any decisions. We serve a traditionally risk-averse industry, which makes our assessment approach extremely prudent. Our north star continues to be how we can deliver even more value to our customers, improving our services and solutions to meet their needs effectively,” says Colombo.
The multinational, with a presence in 15 countries, has already started talks with potential candidates and continues to look for other companies.
Likewise, N5 projects a 300% growth by 2024 and last year alone saw a 275% increase in its number of customers. Along these lines, in the first weeks of 2024, it added more than six big names in the Latin American financial industry to its client portfolio, which already includes companies such as BCP, Santander, Interbank Mastercard, Itaú and BCI
