The Chilean fintech ecosystem has experienced notable growth over the past years, reaching 348 active companies in 2024.

According to the 2024 Fintech Radar Chile report, produced by Finnovista in partnership with Mastercard and Galileo Financial Technologies, the figure represents a 16% year-over-year (YoY) increase, carrying on an annual increase that’s been going on since at least 2022.

Today, this ecosystem is large and diverse, with strong representation in segments including enterprise financial management, with a 17.8% share, and payments and remittances, at 15.8%. Other notable segments include lending and technological infrastructure for banks and fintechs, both at 12.6%. According to the report, this diversification highlights the growing demand for advanced financial solutions for businesses, as well as Chile’s robust corporate and entrepreneurial landscape.

Within this thriving ecosystem, several companies are standing out. These ventures have attracted significant backing from prominent investors, witnessed strong traction and expanded into becoming leading regional fintech players.

Today, we look at some of the biggest and most influential fintech startups and scaleups from Chile. For this list, we focus on independent, fintech startups headquartered in the country, excluding companies that have been acquired or which have gone public. We explore their value propositions, growth strategies and recent strides, emphasizing their success and scale.

Top fintech startups in Chile

Xepelin

Founded in Chile in 2019, Xepelin is a fintech company offering financial services tailored for small and medium-sized enterprises (SMEs) in LatAm. The company’s solution aims to function as a “digital CFO”, providing real-time financial information and automating processes such as payments to suppliers and advances from customers.

Xepelin’s software-as-a-service (SaaS) platform allows businesses to organize their financial information in real-time. Within the platform, users can also apply for short-term working capital loans with just three clicks, and receive the capital in a matter of hours.

Xepelin serves more than 50,000 companies. In 2024, the company grew substantially, adding more than 6,000 new clients to its portfolio, financing nearly US$600 million, and managing 112,000 invoices in Chile and Mexico.

During 2024, Xepelin also launched solutions focused on the security of its financial ecosystem, including a feature which detects suspicious behavior in minutes and prevents fraud, as well as financial analytics to detect patterns and support strategic decision-making.

Looking ahead to 2025, the company plans to consolidate its new products and continue strengthening its digital ecosystem for B2B companies in Latin America.

Xepelin has raised over US$145 million in equity and US$300 million in asset-backed facilities. The company’s latest round was a US$111 million funding closed in May 2022, a record in Chile and one of the largest rounds for a fintech startup in LatAm.

Global66

Founded in 2018 in Chile, Global66 specializes in digital remittances and cross-border transactions. The company provides a global account that allows individuals and businesses in LatAm to access services such as currency exchange, peer-to-peer (P2P) transfers, payment links, international money transfers, as well as payment cards.

These services are designed to facilitate cross-border transactions for individuals and businesses, offering competitive exchange rates and low fees. For example, users can convert funds into multiple currencies, send money internationally, and use the prepaid Mastercard for purchases. The platform also provides instant transfers between Global66 users and the ability to receive funds in different currencies, including the US dollars, euros, and pounds from banks in the US and Europe.

Global66 operates in several countries, including Chile, Colombia, Peru, Mexico, Argentina, Ecuador, and the US, supporting transactions to over 80 countries.

Most recently, the company introduced IBAN and routing number details for USD and EUR accounts, allowing LatAm freelancers, expatriates, students, investors, and businesses to manage international transactions more efficiently. It also upgraded its offering with the Global66 Smart Card, enabling users to conduct transactions in up to eight different currencies directly from the corresponding currency account, eliminating exchange fees and enhancing global purchasing experiences.

Global66 has raised about US$16.3 million in funding to date, according to Dealroom. The company secured its last round in July 2021, raising US$12 million in a Series A. At the time, it claimed more than 290,000 customers.

Fintual

Founded in 2016 in Santiago, Fintual is an investment startup offering seamless access to diversified, low-cost investment portfolios through an intuitive digital platform. This platform allows individuals and businesses grow their wealth through passive investment strategies, primarily by investing in global exchange-traded funds (ETFs).

Fintual uses advanced technology to offer an intuitive, seamless user experience entirely online. This includes automated portfolio management, risk adjustments, and progress tracking toward financial goals. The platform offers several proprietary mutual funds, tailored to different risk profiles. Users can also invest in US stocks.

Fintual is Y Combinator-backed and said it was the first startup from Chile to be accepted into the program in 2018. Since then, it has successfully expanded to Mexico, and by mid-2024, it was managing over US$1.2 billion in assets for more than 150,000 users in Chile and Mexico.

Fintual has raised about US$54 million in funding, according to Dealroom and news reports. The startup’s last round was a US$39 million Series B secured in November 2021. The round was led by Sequoia Capital, one of the most influential VC firms globally.

Colektia

Founded in 2018, Colektia is an artificial intelligence (AI)-powered debt collection startup. The company helps financial institutions create new digital collection models based on AI, leveraging technology to maximize efficiency in management resources while minimizing human intervention.

At the core of Colektia’s platform is an advanced AI infrastructure that enables intelligent segmentation of debt portfolios. The system determines the optimal time, frequency, and communication channel to contact each debtor, increasing recovery rates and improving the customer experience. This approach transforms collections into a more strategic and data-driven process, improving efficiency.

Operating in Chile, Mexico, Peru, and Colombia, Colektia claims it manages over 15 million individuals and US$1.6 billion in debt across these four countries. Between 2018 and 2023, the company achieved a compounded annual growth rate (CAGR) of more than 170%. Last year, it achieved positive net profitability.

Colektia has raised US$15.6 million in funding to date, securing its last round in December 2024. The round, amounting to US$9 million, will be used to fuel AI development, support mergers and acquisitions (M&A), and help acquire new credit portfolios, it says.

Before this round, Colektia had raised US$6.3 million from investors such as Fen Ventures, Angel Ventures, Nazca, Kayyak Ventures, Devlabs, and Wayra Chile.

Toku

Founded in 2020, Toku offers a technology platform for payment collection and repayment. The platform combines software with personalized consulting to increase and automate collections at a lower cost and more efficiently.

From initial customer contact and flexible payment alternatives to early detection of delinquency and recovery, Toku manages the entire collection cycle, from customer contact and payment alternatives to detecting delinquency and recovering payments, while providing a better payment experience for end-users. The company offers customized payment solutions for industries with recurring payments, enabling companies to increase revenue while minimizing costs through efficient payment processing and enhanced customer experiences.

Serving insurance companies, credit providers, telecommunications companies, utilities companies, education companies and subscription companies, among others, Toku claims it allows its customers to increase their revenue by more than 5%, and cut costs by 30%.

Toku currently operates in Chile, Mexico, and Brazil. The company expects to reach over 600 corporate clients during 2024, with revenue growing at an average rate of 70% per quarter.

In April 2024, Toku raised a US$9.3 million Series A round led by Gradient Ventures, Google’s investment fund. The company said it would use the proceeds to strengthen its leadership position in Chile, accelerate its growth in Mexico, and expand its operations in Brazil.

Galgo

Founded in Chile in 2018, Galgo is an innovative online platform offering accessible motorcycle financing. The platform is designed to simplify the buying process and offer a seamless experience.

Galgo allows users to purchase a new motorcycle easily and pay for it in installments. Users can access the platform via any device and explore a wide range of motorcycle models. Once a motorcycle is selected, users can easily apply for financing with just a few clicks, with a credit evaluation response that takes ust a few minutes.

To date, Galgo has provided over 30,000 credits in Chile, Peru, and Mexico. The startup has raised US$74.7 million to date, according to Dealroom.

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