Colombian Fintech Sempli Closes New Financing Round, Totals $42M Since 2017

The company will use the capital to develop and launch financial products this year for the entrepreneurial sector

Esteban Velasco (left) and Felipe Llano, co-founders of Sempli
March 18, 2022 | 10:15 AM

Bogotá — Colombian fintech Sempli, which develops financial products for small businesses, announced this week it has closed a new financing round led by Latin American development bank CAF and Comfama, which brings the total raised by the company since 2017 to $42 million.

In this latest investment, CAF, Comfama and Ewa Capital joined as new investors.

Other institutions and funds that had invested in Sempli in previous rounds include IDB-Lab (Inter-American Development Bank), Oikocredit and Incofin, among others.

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Sempli said it will use the funds raised to expand its portfolio, increasing its capacity to serve the small business and entrepreneur segment. The company also aims to launch new products that will enable it to “deepen its new functionalities for clients, through embedded finance, payment solutions for businesses, as well as financial advisory services”.

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Sempli’s CEO and co-founder, Esteban Velasco, said the last two years have been very important for the company in product development, and which has allowed it to reach a market share of 1.2% in the segment they serve in five years.

Meanwhile, CAF’s chief executive, Rafael Ramos, said: “This round of capitalization will represent a turning point in the company’s growth, and will promote greater access to fair financing for the country’s SMEs”.

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There are an estimated 170 fintechs in Colombia, representing 15.32% of the total ecosystem. The industry has around 3,569 employees in the country, and in recent years the sector has raised some $159.1 million in financing, according to a recent KPMG report.

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