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IATAI Enterprises picks up $5 mln

IATAI Enterprises, a financial and insurance tech company in Latin American and the Caribbean, has secured $5 million in funding from CASEIF III LP, an institutional private equity fund. Among CASEIF III’s investors are International Finance Corporation of World Bank Group; Norwegian Investment Fund for Developing Countries and Swiss Investment Fund for Emerging Markets.

PRESS RELEASE

SAN FRANCISCO, Sept. 1, 2016 /PRNewswire/ — IATAI Enterprises, a leading FinTech & InsurTech company in Latin American and the Caribbean, received the first round, US$5M, of the strategic investment from CASEIF III LP, an Institutional Private Equity Fund.

The funding raised will be used by the company to expand its operations internationally and reinforce its leadership role, when it comes to innovation in the financial and insurance industries. In the near future, IATAI aims to raise an additional US$15M to complete its revolutionary road map by 2020.

CASEIF III LP promotes debt and equity capital investments for small and mid-sized companies in Central America, Colombia, and the Dominican Republic. The fund has a life term of ten years. CASEIF III’s investors are international finance institutions of renowned experience and prestige that share the mission to promote development through the investment in profitable private businesses and projects.

The investors are: International Finance Corporation – IFC, of World Bank Group; Norwegian Investment Fund for Developing Countries – NORFUND; Swiss Investment Fund for Emerging Markets – SIFEM; Impact Investing SME Focus Fund – IIF SME LP of UBS Bank, both of them managed by OBVIAM AG; Dutch development bank – FMO; Andean Development Corporation – CAF; Madagascar Biodiversity Fund – FAPBM; and LAFISE Group – LAFISE.

IATAI’s prime focus is FinTech & InsurTech and the discovery of new dimensions in these industries by exploring disruptive prospects. Additionally, in order to provide the best products and services, they continue to create a series of International Strategic Alliances that allow them to deliver visionary business models.
Motion Life is IATAI’s creative lab. Since 1989, it’s constantly looking for new trends, systematization of knowledge, analysis of social behavior, and consumer habits. The team in their Silicon Valley Headquarters, recently launched their new mobile transactional platform: “allegra”. http://allegra.global/

“Now users can make purchases online and in stores with a new mobile/digital payment method enabled by Visa Checkout –both iOS and Android. This is the kind of secure and frictionless payment enablers that we’re exploring with our clients to take advantage of electronic payment systems, NFC, and QR contactless communication between phones and POS, allowing users and merchants to have an easy and smart transactional relationship,” Sergio Arana, CEO of IATAI said.

“Mobilizing – Omni Channel” is the concept that gave birth to onepocket by allegra. An innovative payment method that allows to pay with Visa Checkout in combinations with reward points, and opens a world of opportunities with handy mCard. The first intelligent and universal mobile card. http://allegra.global/handyu-visa/

“Mobilizing – Protection” When you’re traveling or in your daily life, handy mCard protects you in all your activities ­–anytime, anywhere.

“Uberization of everything” IATAI is also developing a mobile platform that connects users to all sorts of services that meet their day-to-day needs. From home, cars, pets, restaurants, rides, etc.

IATAI’s key numbers: Nowadays, the platform has 8M+ users, 57K merchants/service providers, 17K hospitals, 8K doctor networks worldwide, and 14 financial institutions in LAC.