Finkargo Company Research Report



Company Overview


Name: Finkargo


Mission of the Company:


Facilitating the growth of Latin American importers through streamlined international trade services.

Founding Details:


  • Founded in: 2021

  • Founders: No information is available


Key People:


  • CEO (Visionary): Santiago Molina

  • Chief Revenue Officer: Tomás Shuk

  • Integrator/President: Andrés Ferrer

  • Chief of Staff: Daniel Restrepo

  • VP of Finance: Andrés Ortiz

  • VP of Tech and Analytics: David Echeverri

  • VP of Legal: Maria Garrido

  • VP of People: Ana Maria Garcia


Headquarters:


  • Bogotá, Colombia: Cl. 81 #11-08, Localidad de Chapinero, Bogotá, Cundinamarca

  • Mexico City, Mexico: Calle Montes Urales 424, Lomas – Virreyes, Lomas de Chapultepec V Secc., Miguel Hidalgo, Ciudad de México


Number of Employees: No information is available



Revenue of the Company: No information is available



What is the Company Known For:


  • Finkargo is known for its innovative platform that provides financing, insurance, and analytics services to facilitate the import operations for Latin American businesses.


Products


Verifica


  • Description: Service for verifying the authenticity and quality of international suppliers and goods.

  • Key Features:

  • Verifying existence and legitimacy of suppliers.

  • Inspecting the quality of merchandise to meet buyer specifications.

  • Ensuring goods comply with local and international regulations.


Protege


  • Description: Comprehensive insurance coverage for imported goods.

  • Key Features:

  • No deductibles for insurance claims.

  • Coverage from supplier to end customer.

  • Extended coverage in special zones such as free trade zones.


Analiza


  • Description: Data analysis platform for international trade operations.

  • Key Features:

  • Competitive analysis and market insights.

  • Demand prediction models.

  • Custom reports and data dashboards for detailed business analysis.


Paga


  • Description: Flexible financing solution for importers.

  • Key Features:

  • Credit lines up to USD $2.2 million.

  • Financing terms between 30 to 150 days.

  • Rapid application process with responses within 72 hours.


Recent Developments


2023


  • March: Launched "Protege," a new product to insure goods throughout the import process.

  • September: Achieved financing milestones, surpassing USD $200 million in financed goods for over 240 clients. Added two new products, "Verifica" and "Analiza," to streamline trade operations further.


2022


  • November: Secured a major investment of USD $75 million to boost the growth of SMEs in Colombia.


Other Developments


  • Funding and Investments:

  • March 2021: Initial seed funding of USD $7.5 million to drive growth.

  • November 2021: USD $75 million investment to further enhance Finkargo’s platform and reach.


  • Geographical Expansion:

  • July 2021: Started operations in Mexico.


  • Business Growth:

  • Financed over USD $100 million worth of imports by May 2023.

  • Supported over 1,200 import operations among 147 clients in Colombia.

  • Recorded a significant transaction volume of USD $6 million in one month.


New Partnerships:


  • Finkargo is backed by notable investors such as Community Investment Management, Quona Capital, Flybridge, Maya Capital, and One VC, ensuring robust support for its growth and operations.