Iatai Enterprises, a fintech & insurtech company operating in Latin American and the Caribbean markets, received US$5m in its first round of funding.
Private equity fund Caseif III made the investment.
The company, which aims to raise an additional US$15m to complete its road map by 2020, intends to use these funds to expand its operations internationally and reinforce its position in the financial and insurance industries.
Led by Sergio Arana, CEO, Iatai focuses on FinTech & InsurTech and the discovery of new dimensions in these industries by exploring innovative prospects, even signing international strategic alliances to deliver new business models.
Motion Life, its creative lab, looks for new trends, systematization of knowledge, analysis of social behavior, and consumer habits.
The company recently launched a new mobile transactional platform called allegra, which allows users to make purchases online and in stores with a new digital payment method enabled by Visa Checkout –both iOS and Android- in combination with reward points, and mCard, an universal mobile card.
Iatai is also developing a mobile platform that connects users to all sorts of services that meet their daily needs, from home, cars, pets, restaurants, rides, etc.
Nowadays, the platform has 8M+ users, 57K merchants/service providers, 17K hospitals, 8K doctor networks worldwide, and 14 financial institutions in LAC.