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Kuadra, Colombian Fintech Powerhouse, Extends Reach to Ecuador, Leveraging AI to Empower Microbusinesses

business . 

Following its victory in the Xcalife contest by Netlife in July 2022, Kuadra, a Colombian fintech, gained significant traction by securing a $5,000 investment from angel investors. This financial support propelled the founders to commit to the platform full-time, setting the stage for Kuadra’s expansion and development in the fintech sector.

Founded by CEO Daniel Acevedo and a dedicated team, including Milton Fernández, Yeison Arroyave, and Nilton Vélez, Kuadra has a distinct focus on offering small businesses a comprehensive suite of services. These include essential administrative tools, access to microcredits, and strategic growth solutions. The platform’s mission is to empower and support small businesses in their operational and financial endeavors.

Kuadra’s platform stands out with its dual approach, providing operational support through an AI core designed for comprehensive business management. Additionally, it incorporates a Customer Relationship Management (CRM) system dedicated to analyzing and optimizing business performance. With a commitment to precision, the platform captures around 300 real-time data points per user. This meticulous data-driven approach enables Kuadra to offer tailored financial services, including proprietary microcredits and strategic partnerships with financial allies for data-based financing solutions.

 Since the journey its launch in Colombia in September 2022 has been marked by significant milestones. Rapid user growth was fueled by substantial investments, including $120,000 from Techstars and $50,000 from Credicorp. Looking ahead, Kuadra is set to expand its footprint to the Ecuadorian market in March 2024, with plans to further penetrate Peru through strategic banking partnerships. The fintech has ambitious goals, aiming to reach 40,000 users by the end of 2024 and projecting a revenue of $780,000, with a substantial portion, $320,000, expected from its operations in Ecuador.

Kuadra adopts a flexible subscription model with prices ranging from $5 to $15, catering to diverse client needs. The strategic decision to expand into Ecuador is influenced by factors such as its dollarized economy and cultural similarities with Colombian businesses. Despite facing emerging security challenges, Kuadra positions itself as a resilient ally for businesses, aiming to address the pressing issue of credit access in the region by offering competitive financing rates and innovative financial services.

Kuadra’s expansion journey is well-supported with a full-time staff of 14 and the recent win of the Google For Startups program, providing an additional $200,000 in funding dedicated to AI solutions. This financial backing positions Kuadra to solidify its presence in Colombia, Ecuador, and Peru. The Colombian fintech, which gained momentum after winning the Xcalife contest in July 2022, is set to further enhance its capabilities in providing administrative tools, microcredits, and growth solutions for small businesses. With a subscription model catering to varying client needs, Kuadra’s focus on innovative financial services aligns with its mission to be a resilient ally for businesses in the region.

With the backing of the Google For Startups program and an additional $200,000 in AI solution funding, Kuadra is poised to further solidify its presence in Colombia, Ecuador, and Peru. This support not only strengthens Kuadra’s financial standing but also positions it as a resilient ally for businesses, particularly in a region where access to credit is a significant challenge. The fintech’s subscription model, ranging from $5 to $15, caters to diverse client needs, and its choice of Ecuador for internationalization is influenced by the country’s dollarized economy and cultural similarities with Colombian businesses. Despite emerging security challenges, Kuadra remains committed to offering competitive financing rates and innovative solutions to businesses in the region.

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