With the aim of accelerating its expansion in Latin America, the startup created by Argentines plans to spend around US$20 million throughout the year to carry out these acquisitions.
The Argentine technology company N5, financed by JP Morgan and Citi, announced its new expansion strategy through the acquisition of software and professional services companies related to the financial sector.
This initiative, aimed especially at companies with annual revenues of at least US$ 1 million, aims to strengthen their presence throughout Latin America and promote innovation in solutions for the financial industry.
In order to accelerate its growth, N5 plans to spend around US$20 million throughout the year to carry out these acquisitions.
"Our focus is, and always will be, to offer something differentiated to our customers. And while N5's philosophy is to build the entire technology, there are some specific functionalities that we can more quickly add to our solutions with the help of other capable companies," he explains. Julián Colombo, CEO and founder of the N5.
The investment in Peruvian companies comes after an investment round announced in September 2023.
"We have always been a company that acts with great caution, taking considerable time before making any decisions. We serve a traditionally risk-averse industry, which makes our evaluation approach extremely cautious. Our focus continues to be how we can still offer more value to our clients, improving our services and solutions to meet their needs effectively," says Colombo.
The multinational, with a presence in 15 countries, has already started conversations with potential candidates and continues to look for other companies.
Likewise, N5 projects 300% growth by 2024 and last year alone saw a 275% increase in its number of customers. Along these lines, in the first weeks of 2024, it added more than six big names in the Latin American financial industry to its client portfolio, which already includes companies such as BCP, Santander, Interbank Mastercard, Itaú and Banco de Crédito e Investments (BCI) .
