With the aim of accelerating its expansion in Latin America, the Argentine-created startup plans to disburse around US$ 20 million throughout the year to carry out these acquisitions.
La empresa tecnológica argentina N5, ffunded by JP Morgan and Citi, anunció su nueva
This initiative, aimed especially at companies with annual revenues of at least US$ 1 million, aims to strengthen their presence throughout Latin America and promote innovation in solutions for the financial industry.
To accelerate its growth, N5 plans to spend around US$20 million over the course of the year to make these acquisitions.
“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 Peruvian 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.
Asimismo, N5 proyecta un crecimiento del 300% para 2024 y sólo el año pasado experimentó un aumento del 275% en su número de clientes. En esta línea, en las primeras semanas de 2024, añadió más de seis grandes nombres de la industria financiera de América Latina a su cartera de clientes, que ya cuenta con empresas como BCP, Santander, Interbank Mastercard, Itaú y el Banco de Crédito e Inversiones (BCI).
