Plurall Company Research Report

Company Overview

• Name: Plurall

• Mission: Plurall aims to help micro-entrepreneurs access the financial resources and tools necessary for business growth, focusing on inclusion in the financial sector.

• Founded: 2022 by Federico Gómez (Colombian) and Glenn Goldman (American).

• Key People:

• Federico Gómez, CEO and Co-founder

• Glenn Goldman, Co-founder

• Headquarters: No information is available

• Number of Employees: More than 29 employees covering over five countries, including Mexico, Bolivia, Peru, Venezuela, USA, and Colombia.

• Revenue: No information is available

• Known For: Plurall is known for offering digital financial solutions tailored for micro-entrepreneurs, emphasizing quick and hassle-free access to credit.

Products

1. Microcredit

• Description: Offering business loans ranging from COP $400,000 to $10,000,000 for micro-entrepreneurs.

• Key Features:

• Quick approval process via digital platforms.

• Disbursements facilitated through Visa debit features.

• Loans processed without the need for physical documentation.

2. Digital Account

• Description: Enables micro-entrepreneurs to separate and manage their business finances using a smartphone.

• Key Features:

• Fully digital processing.

• Includes banking as a service feature.

3. Plurall Entrepreneur Card

• Description: Provides entrepreneurs with a debit card for managing business expenses.

• Key Features:

• Facilitates payments for supplies both online and at physical points of sale.

• Offers interest-free transactions.

Recent Developments

Key Developments:

• New Partnerships: In collaboration with the digital wallet 'dale!', Plurall launched a joint microcredit program. This aims to simplify credit access for micro-entrepreneurs in Colombia.

• Innovative Financing: Secured a $20 million debt capital from Fasanara Capital to boost their financial solutions targeting micro-entrepreneurs.

New Products and Features:

• Integrated Finance Product: Set to be launched, aimed at partners in electronic billing, e-commerce, and accounting.

• Improved Loan Processing: From a 10-day disbursement timeline in the previous year to an 8-minute credit approval and a 10-minute disbursement aimed for this year.

Strategic Alliances:

• Strategic partnerships with Visa and dale! have strengthened product development and distribution networks.

• Investment from Krealo, part of Grupo Credicorp, supporting Plurall's growth and technological innovations.

Growth Metrics:

• More than 3,000 entrepreneurs served.

• Over COP $3.1 billion disbursed in credits.

• Established a significant presence in fintech with over 30,000 website visits and 6,000 registered users on the waiting list.

Conclusion

Plurall is positioning itself as a key player in financial inclusion for micro-enterprises in Colombia and other selected countries. By leveraging technology and strategic partnerships, Plurall is making strides towards simplifying and accelerating access to financial resources for small entrepreneurs.