New neobank Plurall has launched in Colombia focused on improving the financial inclusion

February 22, 2022
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Plurall
A new digital neobank has launched in Colombia focused on improving the financial inclusion of entrepreneurs and small and medium-sized enterprises (SMEs).

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Plurall says it is applying technology, data science and a “hyper-focus on customers to deliver mission-critical financial services” to entrepreneurs and SMEs left out by digital-first banking and financial services.

It intends to provide micro and commercial lending products, mobile payments solutions and other financial services.

The challenger bank says: “Despite decades of product design, market presence and market dominance by incumbents, we believe the ideal financial services platform – one that is accessible, instantaneous, friendly and transparent – hasn’t been built yet.”

Plurall has the support of Visa and will leverage technology from well-established fintech suppliers in Latin America (LatAm), with a plan to launch its minimum viable product in Q1 2022.

The Bogota-based neobank intends to launch its SME-focused platform first in Colombia, and then across LatAm.

Plurall says its team of co-founders have collectively acquired over two million account holders in Colombia, expanded across eight countries and lent over $4 billion to SMEs and entrepreneurs in the US and Latin America.

One of the bank’s co-founders, serial CEO and fintech founder Glenn Goldman, says increasing digitisation, regulatory tailwinds and new technologies means “there’s a very real opportunity to reshape the global financial landscape and address the needs of the under-banked”.

Plurall was founded in August last year and has raised $1.3 million in pre-seed funding.

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.

Plurall says it is applying technology, data science and a “hyper-focus on customers to deliver mission-critical financial services” to entrepreneurs and SMEs left out by digital-first banking and financial services.

It intends to provide micro and commercial lending products, mobile payments solutions and other financial services.

The challenger bank says: “Despite decades of product design, market presence and market dominance by incumbents, we believe the ideal financial services platform – one that is accessible, instantaneous, friendly and transparent – hasn’t been built yet.”

Plurall has the support of Visa and will leverage technology from well-established fintech suppliers in Latin America (LatAm), with a plan to launch its minimum viable product in Q1 2022.

The Bogota-based neobank intends to launch its SME-focused platform first in Colombia, and then across LatAm.

Plurall says its team of co-founders have collectively acquired over two million account holders in Colombia, expanded across eight countries and lent over $4 billion to SMEs and entrepreneurs in the US and Latin America.

One of the bank’s co-founders, serial CEO and fintech founder Glenn Goldman, says increasing digitisation, regulatory tailwinds and new technologies means “there’s a very real opportunity to reshape the global financial landscape and address the needs of the under-banked”.

Plurall was founded in August last year and has raised $1.3 million in pre-seed funding.

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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País de origen:
Headquarters:
Bogotá
Monto inversión:
20
M
Ronda financiación:
Debt Financing
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