In a primary, Colombian startup Wihom turns into an one-stop funds integrator for e-commerce in Latin America
Wihom, the Bogota-based fintech introduced that it’s making a foray to Mexico, Brazil, Argentina, Chile, Peru, Ecuador, Colombia, and the Caribbean.
Based in 2021, Wihom offers e-commerce accounting automation software program for on-line retailers to help with reconciliation and calculating commissions with a no-code arrange. First launched in Colombia and Puerto Rico, the startup’s expertise integrates with purposes together with MercadoPago, PayU, Shopify, in addition to different accounting software program with ease.
Along with the geographical enlargement, Wihom additionally introduced that its software program will now combine with new purposes together with SAP, Oracle, Microsoft 365 and Stripe – making it an one-stop platform for e-commerce retailers.
“SMEs in Latin America can not proceed to undergo from inefficiencies that value their companies money and time,” stated Joan Rodriguez, CEO, and co-founder of Wihom. “If we would like entrepreneurs to develop and generate extra growth, we have to combine all technique of fee and make promoting and getting paid one thing that’s assumed to be quick and with out main issues. The brand new purposes that we’re presenting go in that course. We need to take this philosophy to the remainder of the area.”
Rodriguez’s remark displays the necessity for entrepreneurs in Latin America to have the means to work with a number of monetary purposes directly with out compromising on the person expertise or automated accounting. And the proof is within the pudding: SMEs in Latin America have grown 13.4% this yr alone.
For some extra context: Latin America has roughly 300 million digital patrons, a determine forecast to develop over 20 p.c by 2025. And on-line retail gross sales in Latin America is anticipated to hit $160 billion by 2025.
It’s within the gentle of this chance that Wihom, which began out as a proptech startup integrating and reconciling funds for condos and buildings, pivoted to serve on-line retailers within the area.
And the technique labored: In 2022, Wihom was chosen by P18, the worldwide acceleration program of parallel18, due to its astronomical progress (40%) within the first yr of inception.
Trying forward at 2023, Wihom’s focus is on elevating funds (pre-seed spherical to boost $1.5 million), develop its shopper base, the workforce, and desires to be worthwhile in no less than seven nations, and forge extra partnerships.
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