The Argentine fintech Takenos announced the closing of an investment round for US$5 million co-led by the North American funds Variant and Lattice, with the participation of 7 other funds and angel investors. It is the first time that both leaders of the global crypto ecosystem have invested in a Latin American startup, which represents an important support for the Takenos model and a milestone for the entrepreneurial ecosystem in the region.
Founded in 2022 by Lucas Posada, Joaquín Herrera, Francisco Goulu and Simón Bouche, Takenos is a digital wallet designed for people who operate in more than one currency and need a more agile, secure and flexible way to manage their money across multiple borders.
From getting paid for jobs abroad to shopping, sending money and saving, the platform offers concrete solutions to solve people’s everyday financial challenges across countries and markets. Their products not only make money move more efficiently, but they help better allocate capital and open new opportunities.
“This round is an important validation of our thesis, according to which it is possible to build, from Latin America, robust financial technology aligned with the specific challenges of the region. It represents one of the most important seed rounds of the year for a South American startup. “This capital allows us to accelerate the development of tools that help people move their money, better allocate their resources and safeguard value, even in the face of geographic, exchange or regulatory barriers,” said Lucas Posada, CEO of Takenos.
In the last three years, the company expanded its operation throughout the region, with users in more than 20 countries. Currently, Takenos is focused on its consolidation in the Bolivian market, as part of its roadmap with expansion in Latin America. Bolivia constitutes a strategic point to consolidate its presence in the Andean region and enhance its growth in countries with high demand for digital solutions for the management of international transactions.
“In a very short time, Takenos demonstrated that it deeply understands Latin American users and knows how to execute with focus, speed and empathy. Its proposal is not only innovative but necessary, and we are convinced that it is a key platform for the region’s financial ecosystem”Regan Bozan, Managing partner of Lattice.
Solutions to operate money across multiple borders
The cross-border transfer market in Latin America is in full expansion, and Takenos aims to be a key player in that transformation. According to World Bank projections, by 2025 the region will receive US$156 billion in remittances. For its part, the Inter-American Development Bank estimates that the services provided by cross-border workers already represent a volume of US$14 billion. These are some of the indicators that confirm a growing opportunity for financial solutions designed from Latin America to the world.
Border economies have faced information asymmetries and high transaction costs for decades. In Latin America, cross-border transfers typically cost around US$6 for every US$100 sent, and many people do not have access to basic operations, from paying a subscription to sending money to their families.
“The Takenos app allows users to pay and receive payments instantly across borders, save securely in stable assets; monitor, diversify and manage financial risks with tools designed for their reality. When capital reaches where it is most productive, societies grow in a fairer and more sustainable way: with more independence, better distribution of income and less poverty”Lucas emphasized.
Takenos has more than US$500 million in transaction volume to date and has strategic alliances with Mastercard, Bridge, Visa, Fireblocks, Rain, Coinflow, among others. “Have the support of international funds such as Lattice, Variant and North Island Ventures, among othersvalidates both our vision and the entrepreneurial potential of Latin America. This strategic investment allows us to strengthen our expansion, scale solidly and continue developing a product that meets the real needs of more and more users in the region.
”, he concluded.
Starting from this new stage of capitalization, Takenos is preparing to accelerate its projection in the region, explore new strategic integrations and deepen the development of key functionalities. The company also plans to advance in local alliances and continue building a financial proposal with global ambition from Latin America.
The US$5 million investment round was co-led by Variant and Lattice, with participation from North Island Ventures, Reverie, Refract VC, Gumi Cryptos Capital, Nascent, Polaris (family office of the founder of Polygon), and angel investors such as Chuk Okpalugo and Ivan Soto-Wright (founder and CEO of MoonPay).
