{"id":9109,"date":"2023-09-21T11:14:45","date_gmt":"2023-09-21T14:14:45","guid":{"rendered":"https:\/\/blog.n5now.com\/empresa-de-software-financiero-n5-planea-expansion-regional\/"},"modified":"2023-09-21T11:18:41","modified_gmt":"2023-09-21T14:18:41","slug":"empresa-de-software-financiero-n5-planea-expansion-regional","status":"publish","type":"post","link":"https:\/\/blog.n5now.com\/en\/empresa-de-software-financiero-n5-planea-expansion-regional\/","title":{"rendered":"Financial software provider N5 plans regional expansion"},"content":{"rendered":"\n

Argentine financial services software provider N5 aims to expand within nine countries in the region after its latest investment round<\/a>.<\/p>\n\n\n\n

\u201cThe first thing we are going to do is expand geographically. At this moment, we have a waiting list [in some markets],\u201d CEO Juli\u00e1n Colombo (pictured) told BNamericas.<\/p>\n\n\n\n

The company has steadily grown since its founding in 2017.<\/p>\n\n\n\n

\u201cHistorically, we have been doubling the number of clients and billing year after year. Only this year it accelerated, and we managed to double it in the first seven or eight months of the year,\u201d Colombo said.<\/p>\n\n\n\n

The company expects to end 2024 with a turnover of US$20mn.<\/p>\n\n\n\n

Growth came as the company entered markets with big clients and acquired customers elsewhere through these markets, Colombo said. \u201cParaguay is very representative. We did not have clients in 2021 and we are market leaders in 2023,\u201d he said.<\/p>\n\n\n\n

Half of Paraguay\u2019s banks are clients of N5, but the company is only now opening a local operation.<\/p>\n\n\n\n

Globally, the company aims to operate in 25 markets, compared to 14 currently.<\/p>\n\n\n\n

\u201cWe have a presence in the United Arab Emirates, England, Spain, the US and a lot in Latin America,\u201d said Colombo. \u201cWe have teams in 31 cities and 14 countries, although they do not always coincide. For example, in Panama we have clients but not yet a local team and in Ecuador or Venezuela we have a team but no clients. We do two separate searches: one for business and another for talent,\u201d he added.<\/p>\n\n\n\n

Last week the company announced an investment round that generated interest \u201ceight times greater\u201d than expected, but whose amount cannot be revealed for confidentiality reasons.<\/p>\n\n\n\n

Investors Illuminate Financial, Exor Ventures, Madrone Capital Partners, LTS Investments \u2013 the holding company of the Lemann, Telles and Sicupira families \u2013 Arpex Capital and accelerator and digital project specialist Overboost, among others, participated in the operation.<\/p>\n\n\n\n

Part of the proceeds will be used to hire staff. Some 800 positions are open, while N5 has 323 employees currently.<\/p>\n\n\n\n

Clients include Mastercard, Santander, Credicorp Bank, Zurich, Sudameris, Banco Atlas, N26 and BCP.<\/p>\n\n\n\n

ARTIFICIAL INTELLIGENCE<\/strong><\/p>\n\n\n\n

Proceeds will also go toward artificial intelligence. \u201cWe want to be the platform with the most density of artificial intelligence per line of code,\u201d according to Colombo.<\/p>\n\n\n\n

The company is a partner of major cloud providers Google<\/a>, Microsoft<\/a> and AWS<\/a>, and is implementing some artificial intelligence tools, including generative AI.<\/p>\n\n\n\n

<\/p>\n\n\n\n

\u201cDecidimos no competir con alguien que tiene un enfoque tan espec\u00edfico y una asimetr\u00eda de recursos tan grande como Google, Microsoft o AWS. Si ma\u00f1ana por la ma\u00f1ana [algunos de estos proveedores] tienen una nueva funcionalidad, nuestros clientes podr\u00e1n tenerla por la tarde\u201d, afirm\u00f3.<\/p>\n\n\n\n

\u201cWe decided not to compete with someone who has such a specific focus and such a huge asymmetry of resources like Google, Microsoft or AWS. If tomorrow morning [some of these providers] have new functionality, our customers will be able to have it in the afternoon,\u201d he said.<\/p>\n\n\n\n

.<\/p>\n","protected":false},"excerpt":{"rendered":"

Argentine financial services software provider N5 aims to expand within nine countries in the region after its latest investment round. \u201cThe first thing we are going to do is expand geographically. At this moment, we have a waiting list [in some markets],\u201d CEO Juli\u00e1n Colombo (pictured) told BNamericas. The company has steadily grown since its founding […]<\/p>\n","protected":false},"author":2,"featured_media":9532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","footnotes":""},"categories":[214,203],"tags":[],"_links":{"self":[{"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/posts\/9109"}],"collection":[{"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/comments?post=9109"}],"version-history":[{"count":2,"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/posts\/9109\/revisions"}],"predecessor-version":[{"id":9114,"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/posts\/9109\/revisions\/9114"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/media\/9532"}],"wp:attachment":[{"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/media?parent=9109"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/categories?post=9109"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.n5now.com\/en\/wp-json\/wp\/v2\/tags?post=9109"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}