We are delighted to announce our investment in Higo, a groundbreaking FinTech startup reshaping Latin America’s payments landscape. Through Higo’s innovative platform, companies across the region can now streamline their B2B payments with greater efficiency and ease. Our Series A investment is part of our commitment to driving digital transformation in Latin America and beyond.
In this article, we’ll explain what makes Higo unique, and how our Series A will help propel their mission to revolutionize payments.
Overview of Higo
Higo is a financial technology company based in Latin America dedicated to streamlining B2B payments used by millions of companies. Founded in 2019, Higo utilizes its proprietary digital platform which offers an interface that allows accounts payable departments to automate their day-to-day processes, reducing their manual workloads and increasing business cost savings.
Through its Series A funding round, Higo has raised $20M from several investors and venture capital firms to help drive its awareness initiatives and expand operations across the region. As a result of the funding, Higo has expanded access to its services in Latin America and provided new capabilities such as automated invoice matching and payment scheduling.
With Higo, businesses can quickly streamline payments to focus on growth and profitability instead of struggling with manual administrative tasks. Furthermore, with more time freed up by automation, businesses can now invest back into their operations to stay competitive in their respective markets.
The need for streamlining B2B payments in Latin America
Facilitating efficient and secure payments is essential for businesses worldwide, but it is particularly important for markets in Latin America. With a rapidly increasing population, a need for stronger infrastructure, and a growing demand for digital solutions, it has become increasingly clear that streamlining B2B payments in Latin America needs to be addressed.
From old cash-based methods of exchanging goods and services to the adoption of newer digital payment technologies, companies operating in this region are looking to embrace new tools that will make their financial operations simpler and more efficient. Businesses that leverage these new digital payment technologies stand to gain several benefits including time savings and streamlined processes.
By investing in Higo’s Series A round of funding we have taken a big step towards streamlining B2B payments across Latin America. Through our deep integration with banks, backers, and financial institutions in the region we are leveraging emerging technology like blockchain to modernize payment systems—allowing customers to access best-in-class financial services while upholding all compliance requirements of local jurisdictions.
By making B2B payments easier and more cost effective from provider to payer through cutting-edge technology, we are not only driving customer satisfaction but also helping to promote economic growth within the entire Latin American market—ultimately providing greater customer experience through our innovative products.
The Series A Funding
With the Higo Series A, we look forward to streamlining B2B payments in Latin America.
This round of funding is a way for us to expand our team, scale our operations and take our mission of making payments more efficient and secure to even more countries. We believe that our Series A will catalyze change in the LatAm market.
Let’s explore the details.
Overview of the Series A funding
The Series A funding from Higo’s successful investment round has catalyzed change in the Latin American payments market. This influx of capital is being used to drive innovation, hire new talent and expand operations throughout the region.
Draper Nexus Ventures, a venture capital firm with a presence in Silicon Valley and other markets in Europe and Asia, led Higo’s Series A funding. While this financing round saw participation from existing investors DILAcapital, Flourish Ventures, Fenox Venture Capital and other high-profile angels and VCs, it was also very well-received by new strategic investors Grupo Pampa, Koney Inc., CoFIex Partners, Invex LLC and Mexico City-based Veritas Investments.
Throughout this successful investment round, the Higo team has maintained strategic control of the company while working closely with their investors to develop long-term strategies. In addition, this partnership has enabled them to work towards achieving their goals faster by engaging with expert opinions across multiple disciplines to streamline their B2B payment acquisition processes — something which Latin American players have traditionally struggled with compared to more traditional counterparts in Europe and US.
Higo seeks to continue leveraging its position as one of the most technologically advanced B2B payment processors today for businesses operating throughout Latin America. The recent influx of capital through this Series A Funding Round is set to further drive forward the processing capabilities offered by the company— revolutionizing how payments are made throughout Latin America over the coming years!
The impact of the Series A funding
The Series A funding for the financial technology firm Higo was instrumental in driving key partnerships, introducing innovative payment solutions and propelling the growth of their user base. The strategic investments launched a shift in modern banking throughout Latin America, allowing business to transact payments quickly, securely and easily online.
For many industries, streamlining payments is a necessary step forward to keep up with growing consumer demand for convenience and speed. By leveraging its Series A funding, Higo introduced innovative payment methods such as wire transfers and digital wallets, allowing customers to send money with just a few clicks. In addition, through their leading mobile banking technologies, users could pay bills, make international transfers and receive funds quickly while experiencing significant cost savings benefits over traditional payment options.
The increased access to easy-to-use digital payments made financial transactions smoother and enabled microentrepreneurship opportunities across multiple industries such as agriculture, transportation and retail services. In addition, by making commerce easier during the pandemic era when physical transactions were heavily restricted due to health concerns, micro businesses were able to flourish through providing essential services by way of online payments with reduced risk and improved safety standards.
In summary, investing in Higo forced a shift in modern banking throughout Latin America by making consumer-friendly payment tools available for all businesses. The impact on Micromerchants has been seismic as their newfound access to cheaper and faster payments enabled them to better compete economically in traditionally underserved markets impacted by Covid-19 restrictions on daily life activities.
Streamlining B2B Payments in Latin America: Our Series A in Higo
In 2020, Higo raised a Series A to support its mission of streamlining B2B payments in Latin America. This investment provided the necessary capital to scale up operations and grow the team, which sparked the market transformation.
This article will explore how the Series A in Higo has impacted the Latin American B2B payments industry.
The need for streamlining B2B payments
The need for streamlining business-to-business (B2B) payments in Latin America represents a tremendous opportunity for FinTech startups to raise much-needed capital and drive innovation.
The Latin American FinTech market is estimated at US$250 billion and is projected to grow 10% annually while remaining largely underserved by traditional banking systems. This provides a strong opportunity for startups to emerge as reliable providers of vital financial services and payment solutions in the region.
Inadequate payment processing infrastructure creates headaches for businesses operating in the region, leading to higher costs, transaction delays, and a poorer customer experience. Problems include difficulties validating billers’ identity, manual processes involving invoice confirmation, long waits for payments, problems verifying digitally signed documents, issues with PDF manipulation and a lack of established standards for digital payments programming interfaces (APIs). This creates major bottlenecks impeding companies from efficiently carrying out fast and secure B2B transactions — an essential consideration when seeking access to global markets.
Addressing such issues presents an opportunity for FinTechs to build user-friendly platforms that process incoming payments quickly and securely on the server side along with automated reconciliation processes that reduce latency between validated and released orders. The ability of financial technology players to provide such solutions is paramount when discussing securely enabling business activity within Latin America.
With these solutions — which have so far been nonexistent then Higo can come into the market not only provide accessibility but also trust in a seamless transaction process ultimately reducing risk, time/costs associated with B2B transactions; streamlining payments within Latin American B2B space.
The benefits of streamlining B2B payments
By streamlining B2B payments in Latin America we are unlocking enormous potential for businesses and other key stakeholders in the region. By securely processing domestic and international payments, businesses can improve their cash flow and increase employee productivity. This enhances their ability to pay suppliers, manage logistics, and grow their business.
Easier access to credit also allows Latin American companies the flexibility to better manage their capital expenditures, liquidity, and overall financial health. In addition, global-based companies can quickly expand into new markets with greater confidence by reducing currency fluctuations and supply chain disruption risks.
At the same time, streamlining B2B payments enables faster transaction resolution, further increasing transparency and trust between public institutions, financial service providers, commercial lenders, and buyers. Moreover, digitizing paper-intensive processes cuts costs across multiple channels and dramatically speeds up collection times while significantly improving customer experience.
These process improvements allow organizations such as banks or card issuers to offer more tailored solutions — a range of options that customers can use when receiving payments. In addition, these personalized solutions provide better access to customer data, resulting in improved analytics capabilities ahead of protecting their customers’ security interests first.
Finally, it is our belief that when technology is used responsibly, it can increase access to financing, reducing poverty levels throughout Latin America by empowering many microeconomic enterprises in the region.
Conclusion
Our investment in Higo catalyzes change, driving the continued streamlining of B2B payments in Latin America. Furthermore, it reinforces our commitment to supporting Latin American businesses as they grow and embraces the idea that technology can make financial transactions more straightforward, secure, and cost-effective.
We believe this investment will be a turning point for Latin America’s journey toward greater financial inclusion.
Summary of the Series A funding
Higo has closed a successful Series A funding round, securing an investment from multiple global venture capital firms, private venture capitalists and entrepreneurs. These funds will further support the company’s mission of streamlining B2B payments in Latin America by providing access to affordable and efficient payment solutions that meet the industry’s ever-evolving needs.
The Series A funds will be used to enhance exclusive financial services tailored to Latin America’s business payment needs. The funding will also help Higo rapidly expand its product offerings, allowing companies of all sizes easier access to customer receivables to simplify cash flow management more accurately. This financing marks a major milestone for Higo; it is well-positioned to become a leader in business payment solutions for Latin American markets.
In addition, this financing round provides resources for the company’s continuous operations and growth so that it can expand its product offering into new countries across Latin America, advancing its mission of making sure businesses have safe and secure access to finance through modern payment technologies — creating much-needed financial inclusion across Latin America’s countless small businesses and freelancers.
With this Series A financing support, Higo is ready to grow rapidly while maintaining customer trust and satisfaction through service excellence.
The impact of the Series A funding on streamlining B2B payments in Latin America
Our Series A funding from Higo is important in streamlining B2B payments in Latin America. This strategic investment will make it easier for companies to securely manage their accounts and transactions. Furthermore, through our partnership with Higo, we can expand our services and further develop our products, aiming to bring simplicity and efficiency to Latin America’s B2B payments market.
Our innovative solutions help businesses regain control of their payments, while streamlining processes, reducing transaction costs, optimizing back office efficiency and enhancing data security. Our new collaboration with Higo even offers users access to a full-fledged portfolio of m-commerce solutions including mobile payment acceptance and chargeback protection through its state-of-the-art platform.
These fully digital processes increase user experience while streamlining B2B payments in Latin American markets like Mexico, Colombia, Peru and Chile. With this collaboration, we look towards helping companies save time and money by eliminating manual paper processing and transaction fees associated with bank wire transfers or checks.
Overall the Series A funding from Higo has provided us with necessary resources for scaling up operations – allowing us to expand our services into new markets providing better options for companies looking for streamlined solutions for processing B2B payments in Latin America. We are excited about the impact this investment will have on businesses in the region by making it easier and faster for them to conduct day-to-day transactions.
