KEO World raises US$20M to drive the growth of its inventory finance program for Pymes in Latam

June 14, 2022
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The growth capital will be used to expand the company’s operations and supply chain lending across the Americas along with supporting its 16,000+ current SMB customers

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KEO World Inc. (KEO), the leading B2B Buy Now, Pay Later (BNPL) fintech, today announced the closing of a $20 million growth equity round led by Montreux Growth Partners with additional funding provided by Mayberry Investments and Avior alongside a debt facility from Hayfin Capital Management. With this investment, KEO World will fuel the growth of its Workeo small and medium-sized enterprise (SME) inventory financing program across the USA and LATAM.

“This growth equity investment will provide the company with the funding to expand the Workeo offering to more businesses and territories, and to enhance our infrastructure and proprietary BNPL platform to support faster growth and to meet our customers' needs”
“KEO World has developed a highly innovative, B2B-focused approach to the Buy Now, Pay Later industry, and we’re very excited to support the company as they expand into new territories and continue to innovate their BNPL platform,” states Dan Turner, Managing Director at Montreux Growth Partners. “KEO World’s mission to digitize BNPL practices and empower SMEs is enjoying strong market traction, and we are confident that this new capital will allow it to successfully expand its business into new markets across the Americas.”

KEO's core Workeo B2B BNPL platform was developed to digitize the B2B payments ecosystem and to facilitate business growth around the world. Through Workeo, SMEs are issued a virtual KEO card and credit line, after a seamless digital approval process. Suppliers that want to offer KEO’s B2B BNPL inventory finance program to their customers can do so instantly, without the need for any systems integration.

“This growth equity investment will provide the company with the funding to expand the Workeo offering to more businesses and territories, and to enhance our infrastructure and proprietary BNPL platform to support faster growth and to meet our customers' needs,” said Paolo Fidanza, Founder, and CEO, KEO World. “Our Workeo program fills a major gap in the working capital requirements for SMEs, and over the past year we have experienced incredible growth in transactions and SMEs using our all-digital credit solution for their inventory purchases.”

This round of funding comes on the heels of multiple milestones for KEO World, including:

  • Building a Board of Directors: As a result of this financing round, KEO also strengthened its Board of Directors and Corporate Governance by appointing Dan Turner, Managing Director at Montreux Growth Partners as a Board member. Antonio Rossi, Senior Partner at Avior, Paul Gerard Mouttet, representing Mayberry Investments and Stefano Questa, Portfolio Manager from Hayfin Capital Management will serve as Board observers.
  • Growth Working Capital Financing: A seven-year debt facility announcement of up to $500 million from Hayfin Capital Management to expand the purchasing power of thousands of SMEs via KEO’s Workeo program in Mexico.
  • Industry-Leading Team: Hiring of a new Chief Corporate Development Officer (CCDO), Hernán Magariños, and a new Chief Strategy Officer (CSO) Hernan Lopez Varela.

KEO was advised by Alantra, the independent global mid-market investment bank. Alantra also advised KEO on the arrangement of its debt facility earlier this year.

For more information about KEO World, please visit www.KEOworld.com.

About KEO World

Founded in 2020, KEO World is a Buy Now, Pay Later fintech focused on credit solutions and supply financing for small-and-medium-sized businesses (SMBs). Headquartered in Miami, Florida, with operations in the U.S., Mexico, Colombia, Peru, Ecuador, and Dominican Republic; KEO currently supports over 16,000 businesses in the U.S. and LATAM.

About Montreux Growth Partners

Montreux is a growth equity firm, with a focus on companies that offer innovative IT-based platforms to the healthcare industry and to the broader B2B market. Montreux has invested in more than 60 companies across multiple funds. Those investments include fintech companies FinPay and Paymap (acquired by First Data Corp). For more information, please visit www.mepvc.com.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

KEO World Inc. (KEO), the leading B2B Buy Now, Pay Later (BNPL) fintech, today announced the closing of a $20 million growth equity round led by Montreux Growth Partners with additional funding provided by Mayberry Investments and Avior alongside a debt facility from Hayfin Capital Management. With this investment, KEO World will fuel the growth of its Workeo small and medium-sized enterprise (SME) inventory financing program across the USA and LATAM.

“This growth equity investment will provide the company with the funding to expand the Workeo offering to more businesses and territories, and to enhance our infrastructure and proprietary BNPL platform to support faster growth and to meet our customers' needs”
“KEO World has developed a highly innovative, B2B-focused approach to the Buy Now, Pay Later industry, and we’re very excited to support the company as they expand into new territories and continue to innovate their BNPL platform,” states Dan Turner, Managing Director at Montreux Growth Partners. “KEO World’s mission to digitize BNPL practices and empower SMEs is enjoying strong market traction, and we are confident that this new capital will allow it to successfully expand its business into new markets across the Americas.”

KEO's core Workeo B2B BNPL platform was developed to digitize the B2B payments ecosystem and to facilitate business growth around the world. Through Workeo, SMEs are issued a virtual KEO card and credit line, after a seamless digital approval process. Suppliers that want to offer KEO’s B2B BNPL inventory finance program to their customers can do so instantly, without the need for any systems integration.

“This growth equity investment will provide the company with the funding to expand the Workeo offering to more businesses and territories, and to enhance our infrastructure and proprietary BNPL platform to support faster growth and to meet our customers' needs,” said Paolo Fidanza, Founder, and CEO, KEO World. “Our Workeo program fills a major gap in the working capital requirements for SMEs, and over the past year we have experienced incredible growth in transactions and SMEs using our all-digital credit solution for their inventory purchases.”

This round of funding comes on the heels of multiple milestones for KEO World, including:

  • Building a Board of Directors: As a result of this financing round, KEO also strengthened its Board of Directors and Corporate Governance by appointing Dan Turner, Managing Director at Montreux Growth Partners as a Board member. Antonio Rossi, Senior Partner at Avior, Paul Gerard Mouttet, representing Mayberry Investments and Stefano Questa, Portfolio Manager from Hayfin Capital Management will serve as Board observers.
  • Growth Working Capital Financing: A seven-year debt facility announcement of up to $500 million from Hayfin Capital Management to expand the purchasing power of thousands of SMEs via KEO’s Workeo program in Mexico.
  • Industry-Leading Team: Hiring of a new Chief Corporate Development Officer (CCDO), Hernán Magariños, and a new Chief Strategy Officer (CSO) Hernan Lopez Varela.

KEO was advised by Alantra, the independent global mid-market investment bank. Alantra also advised KEO on the arrangement of its debt facility earlier this year.

For more information about KEO World, please visit www.KEOworld.com.

About KEO World

Founded in 2020, KEO World is a Buy Now, Pay Later fintech focused on credit solutions and supply financing for small-and-medium-sized businesses (SMBs). Headquartered in Miami, Florida, with operations in the U.S., Mexico, Colombia, Peru, Ecuador, and Dominican Republic; KEO currently supports over 16,000 businesses in the U.S. and LATAM.

About Montreux Growth Partners

Montreux is a growth equity firm, with a focus on companies that offer innovative IT-based platforms to the healthcare industry and to the broader B2B market. Montreux has invested in more than 60 companies across multiple funds. Those investments include fintech companies FinPay and Paymap (acquired by First Data Corp). For more information, please visit www.mepvc.com.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.
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Headquarters:
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Monto inversión:
20
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Ronda financiación:
Debt Financing
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