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An alliance ensured the promotion and development process of Fintech and Insuretech

Much is spoken worldwide, Latin American and national, of the great challenges facing the financial sector in the current times. One of them is to adapt to the digital revolution driven by new business and the requirements of customers in the field. In this line, in Chile, the first investment of a traditional Chilean financial company in a Fintech was completed.

The Consorcio Group, a leading company in financial services and the largest insurance group in the Chilean market. With a presence in Insurance, Bank, Forecast and Savings agreed an investment of US $ 500,000 around $ 350 million pesos in, platform for adding online payment means that allows its customers to do this payment process quickly and easily.

The alliance

The alliance between Consorcio and Pago Fácil will allow Chilean Fintech which already has more than 4,000 clients from all over the country. It is to accelerate its growth rate and expand its services to other Latin American countries. In this line, PagoFácil will seek to start its internationalization to two Latin American countries during the last quarter of 2019.

The founder of, Cristián Tala, stressed that they have always had the conviction that it is important to create an association between Fintechs and banking to be able to grow and offer people a service according to their needs. In this regard, he expressed that they are convinced that the products and services that they can create in conjunction with the Consorcio Group will be very innovative and of high impact for users.

The first step

The corporate manager of Consorcio Development, Tomás Zavala, said that the decision to support the development of this platform is part of the strategic determination of Consorcio to support the development of startups that contribute to the modernization of the financial system. Along with this, he stressed that the investment in Pago Fácil is the first step in the promotion and development process in the Fintech and Insuretech world through collaborative work with startups and direct investment.

Meanwhile, the Association of Financial Technology Companies of Chile, FinteChile, applauded this investment that unites the experience of Consorcio with the technological development of in the financial field. Its Executive Director, Ángel Sierra, said they celebrate this milestone because the complementarity and synergies that are pending to capitalize together the traditional financial system and Fintech companies are corroborated.

Published inStartups
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