Latin American fintech, Trii has raised a $3 million funding from Bancolombia, a monetary establishment that provides a broad vary of banking services in Colombia.
Though the phrases of the spherical weren’t disclosed, the financial institution mentioned that it grew to become a shareholder of the corporate, which suggests the funding (or a great a part of it) was for fairness.
The CEO and co-founder of Trii, Esteban Peñaloza, mentioned that including Bancolombia as an investor fills them with delight. “It reinforces our dedication and mission to democratize entry to the inventory and monetary markets in Latin America,” he added.
Trii, is a cell utility that enables customers to purchase and promote shares within the Colombian, Peruvian and Chilean inventory exchanges via their smartphones. The platform additionally permits retail buyers to purchase each US and native equities in LatAm.
Based in 2020 by Carlos Guayara, Esteban Peñaloza, and Luis Patt, the fintech has raised near $8 million in funding since its launch. Its most notable spherical of funding was a $4.5 million seed spherical led by International Founders Capital. It additionally participated within the YC combinator accelerator spherical in 2021.
In response to knowledge from the startup, it has managed to triple its person base throughout 2022, presently has 150,000 customers in its three markets; Colombia, Peru, and Chile, and has processed near 500,000 transactions since its launch in March 2020.
With a standout characteristic that it costs decrease commissions than what stockbrokers sometimes cost, the startup says it desires to democratize entry to the inventory market in a pleasant, easy-to-understand, and cheap manner.
