Fintech
Koywe acquires Chilean fintech Facto to target the North American market
Chilean paytech startup Koywe acquired Done for an undisclosed amount, 15 months after Koywe’s $2.5 million seed round in January 2023.
With the acquisition, Koywe aims to leverage Facto’s founder Mickle Foreticof the experience of the US Federal Reserve Corporate Payments Coalition launch a new billing standard in the United States.
Koywe offers cross-border payments via cryptocurrencies, while Facto helps SMEs integrate their online sales technology stack with a standardized payment and invoicing solution.
“Together we have a much better chance of winning a fight in the United States, which is great. Ultimately the ambition of an entrepreneur is to say “you know what?” We’re going for the jackpot,’ and the jackpot for someone who was born in Chile is to have a successful company in the United States that connects all of America,” he said Ignacio Detmerco-founder of Koywe.
Founded in 2021, Facto processes over $1.2 billion in transactions annually.
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