Koin raises USD 7.21 million

Thursday 28 March 2024 12:58 CET | News

Brazil-based fintech Koin has secured a USD 7.21 investment to finance customer credit operations.


Acquired by the Decolar Group, the Brazilian company Koin has significantly expanded its range of products and services. Originating in the tourism market with a single offering - instalment payment slips, the startup has now broadened its scope to serve various sectors.

Koin operates as a digital wallet where users can make purchases, opt for PIX or instalment payment slips, and settle payments later, without impacting their credit card limits or requiring a bank account.


Brazil-based fintech Koin has secured a USD 7.21 investment to finance customer credit operations.


Expansion plans

In a strategic move, Koin aims to expedite its operations by launching its inaugural FIDC (Fundo de Investimento em Direitos Creditórios) worth USD 7.21 million. This fund will facilitate financing for customer credit operations.

Officials from Koin said they experienced rapid growth and realised that establishing an independent operation was the way forward. This instils confidence in store owners, ensuring they can expand their operations while relying on a trusted partner.

Currently, Koin serves over 1000 retailers across Latin America, with half of them offering the PIX instalment option. These retailers and e-commerce platforms typically process more than 5,000 orders monthly.

The company’s goal is to onboard more successful merchants and double transactions with end customers. On average, transaction amounts to around USD 500, with instalment plans extending up to 24 months, depending on the transaction.

Following last year's break-even point, Koin's ambition for 2024 is to double the number of transactions involving PIX instalment payments.

The current focus

Koin has expanded its operations across Brazil and eight other countries in LATAM, such as Argentina and Mexico.

Utilising its extensive database and machine learning models, Koin analyses tourism trends, fraud patterns, and consumer behaviours to refine its offerings and expand its reach.

The company's objective for the year 2024 is to triple the adoption of its products among retailers in countries like Mexico, Colombia, Argentina, and Brazil.

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Keywords: instalment payments, PIX, expansion, startup, digital wallet
Categories: Payments & Commerce
Companies: Koin
Countries: Latin America
This article is part of category

Payments & Commerce


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