Druo, a Colombian paytech that enables direct B2B payments for LatAm companies, announced that it would enter Peru, Mexico, and the United States in 2023 and expects to reach 600 million accounts available in its network, allowing its business customers to make account-to-account payments and collections in multiple countries.
In a press statement, Alejandro Pinzón, CEO and Co-founder of Druo stated that “the reception we have received from customers, users, and investors, even in this time of economic uncertainty, is the demonstration of the value and impact that we generate from Druo by simplifying the payment and collection processes for all types of companies.”
“The expansion into these new markets,” said Pinzón, “is undoubtedly a fundamental step in the consolidation of our financial solutions on a global scale.”
Expanding to fintech-friendly ecosystems
According to Druo, Peru, and Mexico are countries that have established themselves as powerhouses in the fintech ecosystem in Latam, not only because of their large size but also because they have the most significant advances in regulation for financial technology companies in the region.
And this is a trend that in 2023 promises to grow considerably, making these ecosystems perfect for the proliferation of fintechs in various sectors.
With this expansion, Druo consolidates its strategy to contribute to the disruptive change of payment systems in Latin America.
Faster and more direct B2B payments in LatAm
According to the company, Druo’s technology creates an ecosystem that enables B2B users to charge or pay directly to any bank account without going through the complex network of financial intermediaries.
To do this, they connect directly with financial institutions and convert all bank accounts into a means of payment.
The system is available to businesses through a web portal with over 5,000 popular applications and APIs that can connect with any third-party system.
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For the fintech, this can contribute to significant cost savings for small and medium-sized enterprises with the automation of administrative processes and a radical improvement in the experience of its users.
“Our regional expansion marks a milestone in the evolution of payment systems in the region, making us the first company in Latin America to enable account-to-account payments in multiple countries through an ecosystem directly connected to financial institutions, businesses, and end users,” said Druo’s CEO.
