September 9th, 2024 – Bogotá, Colombia – Siuma Capital served as exclusive financial advisor to Puntored on the sale of a minority stake of the company to the Stellar Enterprise Fund, part of The Stellar Development Foundation (“Stellar”). Puntored is a leading alternative payments company in Latin America empowering businesses and individuals by providing seamless financial services through innovative APIs and embedded digital solutions. Stellar is a pioneering nonprofit organization revolutionizing the financial landscape through cutting-edge blockchain technology. Committed to democratizing access to the global financial system, Stellar is reshaping the future of global finance and driving a more equitable and interconnected world. This strategic investment from Stellar marks a pivotal moment for Puntored, enhancing its capabilities in cross-border transactions using blockchain technology.
Martin Galante, Director of Siuma Capital, expressed his enthusiasm for the partnership, stating, «I would like to extend my heartfelt congratulations to Andres Alban, Puntored’s CEO and visionary founder. Andres’ commitment to democratizing payments and promoting financial inclusion has been instrumental in driving the company’s success and positioning it as a leader in the fintech sector. His innovative approach and unwavering dedication have been pivotal in reaching this momentous achievement. Looking ahead, I am excited about the prospects of the collaboration between Puntored and Stellar. This partnership promises to unlock transformative benefits for the financial ecosystem and drive significant advancements in cross-border transactions. We look forward to witnessing the positive impact of this strategic investment and the continued growth and success of Puntored.»
Puntored mobilizes more than 5.5 billion dollars a year through its expansive network of over 100,000 access points benefiting more than 3 million families. Its’ portfolio of 30,000+ products and services includes embedded payments, service recharges and digital wallet transactions. The company aims to provide these services LatAm-wide, showcased by its’ recent entrance to the Mexican market through the acquisition of GestoPago.
The investment, executed by the Stellar Enterprise Fund, is the entity’s first investment in a Colombian business. The move marks a step forward in Puntored’s mission to transform digital payments across Latin America. Siuma Capital is privileged to have played a key role in this significant transaction, which highlights the firm’s deep expertise in the fintech sector while reaffirming its steadfast commitment to guiding clients in achieving their strategic objectives.
