Avista Colombia, the Bogotá fintech founded in 2019 by Martín Restrepo and Gabriel Seinjet to democratize access to payroll credit, was acquired in its entirety by Grupo Cibest, the parent company of Bancolombia.
The operation was formalized on August 3. In addition, it incorporates Avista into the holding’s financial ecosystem, where Nequi, Wompi, Wenia, Bancoagrícola and BAM also operate, among other companies.
Avista was born with the objective of bringing payroll loans to all segments of the population. From the beginning, it also sought to reach all income levels and the entire Colombian territory, including rural areas.
To finance its growth, the company leveraged primarily debt. Thus, it obtained more than US$250 million from entities such as Accial Capital and Ninety One. In addition, last year it made its first securitization on the Colombian Stock Exchange (bvc). The operation had a global quota of $200,000 million.
Seven years building financial inclusion
In seven years of operation, Avista has served more than 146,000 Colombians. Likewise, it reports disbursements close to $2.9 trillion and a total portfolio of $1.5 trillion as of June 2026.
The company has a presence in the 1,007 municipalities of the 32 departments of the country. In addition, it maintains a special focus on the silver economy, serving older adults who have historically had limited access to financial products adapted to their needs. Avista was also recognized as one of the 50 most influential fintech companies in the world and one of the 100 startups with the greatest potential in Colombia.
In addition, it has certification as a B Company for its positive impact business model. It is also a member of the United Nations Global Compact and has ratings from Fitch Ratings and BRC Ratings – S&P Global.
An acquisition that adds capabilities without losing identity
Avista will continue to operate independently within Grupo Cibest. It will maintain its brand, its business strategy and its focus on payroll loans and products related to payroll and pensions. At the same time, the acquisition will allow it to access greater asset strength. It will also improve its funding conditions and strengthen its risk management tools.
“This step strengthens our value proposition with inclusive financing solutions that guarantee the proximity and superior experience that Colombians require, especially those belonging to the silver economy,” said Juan Carlos Mora, CEO of Grupo Cibest.
For Avista, the operation marks the beginning of a new stage. The company built a national presence by relying on equity and debt. It now becomes part of one of the largest financial groups in Latin America.
