Finnecto to accelerate LatAm expansion with $1.7M Pre-Seed round
Startup Finnecto has closed a $1.7 million pre-seed funding round to accelerate its growth in Colombia and across Latin America, while continuing to develop its AI-powered platform.
The round was co-led by Amador—whose portfolio includes companies such as Simetrik, Bold, and Galgo—alongside Salkantay Ventures, a co-investor in Colombian startups like Simetrik, Bold, and Platzi.
Strategic investors also joined the round, including Kfund, BuenTrip Ventures, Hustle Fund, ADN Ventures, Punto Cero Ventures, and The Pitch Fund.
Funding and Vision.
Commenting on the announcement, Ariel Puga, Co-founder and CEO of Finnecto, stated:
”This milestone validates the path we’ve been building and strengthens our conviction: Finnecto is solving a critical need for Colombian businesses. This round enables us not only to accelerate growth, but also to solidify our position as the leading platform for operational expense management in Colombia and the broader region, with a particular focus on the enterprise segment.”
Vicente Espinosa, Co-founder and CTO, added:
”This diverse group of investors brings us operational expertise, a global perspective, and a strategic network that enhances our ability to execute with deep technical capabilities and regional scale. It’s the ideal momentum for this new stage of growth.”
Roberto Sierra, Partner at Amador, emphasized the team and the startup’s value proposition:
”We invested in Ariel, Vicente, and the Finnecto team because of their ability to merge financial expertise with a world-class product and engineering mindset, fundamentally transforming how Latin American companies manage their operational expenses while navigating complex regulatory and tax environments.”
This round follows a smaller fundraising in 2024 led by San Francisco’s Plug and Play and a group of angel investors, which enabled the team to build the initial version of the product.
With the newly raised capital, Finnecto plans to accelerate regional expansion, enhance its platform with additional financial and accounting integrations, and scale its commercial operations in current markets.
The company will also invest in R&D to enhance its AI capabilities, focusing on top-tier technical talent and a scalable architecture that positions AI as the core engine of its operations, aiming to deliver unprecedented efficiency.
Funds will also support the expansion of its sales and customer experience teams, with a focus on senior, mission-driven professionals.
Puga notes:
”We want the people who join this project to imagine, challenge, dream, and build with us. What we’re creating has the potential to permanently change how finance teams operate across the region—and we’ll do it with intelligence, speed, and excellence.”
Colombia as a Strategic Market.
Colombia remains a key market for Finnecto. Puga explains:
”We opened our physical office in the country a year ago, and it has since become a strategic base for scaling our operations. Not only was it the first market where we officially launched, but it also enabled us to validate our value proposition alongside some of the region’s leading companies.”
A significant share of Finnecto’s revenue comes from Colombian clients in sectors such as financial services, insurance, banking, logistics, and technology—companies actively seeking to digitally transform their financial processes.
Puga adds further insight into their local operations:
”In markets like Colombia, many large enterprises still rely on manual, repetitive processes to manage expenses, which leads to inefficiencies, excessive costs, and compliance risks. Our product investments are aimed squarely at solving this problem—automating expense management through a solution that understands local accounting and tax nuances, enabling greater control, transparency, and cost savings.”
Technical Solution and Reach.
Finnecto was founded in mid-2023, when co-founders Ariel Puga and Vicente Espinosa began developing a comprehensive platform for budget and expense management.
After validating their concept with early users and analyzing both regional and U.S. markets, the startup quickly evolved, gaining adoption within large enterprises that expanded its use across departments and geographies.
Today, Finnecto operates in Colombia, Peru, Chile, and Mexico, serving clients in insurance, financial services, technology, and logistics, with physical offices in Colombia and Chile.
Its AI-powered SaaS platform connects traditionally siloed departments—finance, accounting, treasury, procurement, legal, and compliance—automating tasks that previously took weeks.
This reduces the expense cycle by up to 80% and operating costs by 35–40%, while ensuring traceability, control, and regulatory compliance.
Finnecto’s regionally scalable solution is tailored to each country’s specific regulatory, accounting, and financial frameworks. To achieve this, the company has developed native integrations with local tax, accounting, and financial systems, ensuring full compliance in each market.
Additionally, the platform natively integrates with leading ERPs used by medium and large enterprises in the region—including SAP, Oracle, Netsuite, and Odoo.
These integrations automate and unify traditionally disconnected departments—finance, accounting, treasury, procurement, legal, and compliance—facilitating adoption and accelerating digital transformation across multiple industries.
With a global vision from the outset, Finnecto is positioning itself as the leading operational expense management platform in Latin America, addressing every stage and requirement of the spend management lifecycle throughout the region.
|
|
