Fintech Radar Secures $1.5M Investment to Fuel Expansion in LatAm
Radar is a technological treasury management solution for Latin America.
Radar, a fintech startup specializing in technological solutions for bank reconciliation and mass payment processing, has successfully closed a $1.5 million investment round aimed at expanding its footprint in Mexico. This strategic move underscores Radar's ambition to revolutionize treasury management for businesses. Founded in 2022 by Herbert Schulz, Gabriel Vilaboa, Rafael MartÃnez, and Amanda Jacobson, the company has rapidly gained momentum, processing over 3 million payments totaling $400 million in the past year.
Schulz, who brings over 15 years of fintech entrepreneurship experience to the table, emphasized the significance of this funding round in propelling Radar towards its next milestone: securing a Series A round within 18 months. With a keen eye on growth and innovation, Radar plans to deploy the fresh capital to bolster its engineering team and expand operations in Chile and Mexico. Their suite of treasury solutions, designed to streamline payment reconciliations and cash flow projections, has already garnered traction in both markets, with plans to integrate artificial intelligence into their products in the coming months. As Radar gears up for a transformative year ahead, Schulz anticipates a threefold increase in sales for 2024.
Read more in Diario Financiero.