Destacame, a Santiago, Chile-based personal financial management platform, closed a US$3m Series A funding round.
– Fen Ventures,
– Accion Venture Lab, and
– Mountain Nazca.
The company intends to use the funds to scale its operations in Mexico, reinforce its leading position in Chile, and continue developing its suite of financial products.
Launched in 2015 by by Jorge Camus, Augusto Ruiz-Tagle and Sebastian Ugarte, Destacame offers a suite of products that allow consumers to thoroughly manage their financial life, including past-due debt repayment, graduating loans to help borrowers build or improve their credit history, consumer loans, credit cards, and free financial health tools. It couples these financial products with an alternative credit score based on alternative data and an individual’s payment behavior, including utility and other bill payments, to determine a consumer’s creditworthiness.
The company collaborates with more than 25 financial institutions to deliver these financial products through its platform.
It currently has more than 30 employees and offices in Chile and Mexico.