Bogota-based Plurall says it is not only applying technology and data science but also a “hyper-focus on customers to deliver mission-critical financial services” serving entrepreneurs and SMEs left out by digital-first banking and financial services.
A statement issued by Plurall says it intends to provide micro and commercial lending products, mobile payments solutions and other financial services to entrepreneurs and SMEs from Latin America and the US.
Plurall launches neobank platform across the Americas
The team at neobank Plurall, felt that a platform to deliver financial accessibility and inclusion had not been built yet, underlining the need to launch the platform.
Plurall is supported by Visa and will utilize technology from well-established fintech suppliers in Latin America (LatAm), with a plan to launch its minimum viable product in the First Quarter of 2022.
With a strong focus on SMEs the Bogota-based neobank intends to launch its platform first in Colombia and then across Latin America and the US.
One of the co-founders of Plurall, Glenn Goldmann, a fintech founder, felt that regulatory reforms, digitalization, and emerging technologies meant that there was a very urgent need to address the needs of people who do not receive adequate banking services and thereby reshape the global financial landscape.
Despite decades of product design, market presence, and market dominance by incumbents, the team believes that the ideal financial services platform – one that is accessible, instantaneous, friendly, and transparent – hasn’t been built yet.
Not only have the most dynamic SME owners and entrepreneurs been completely left out of this digital revolution in payments and access to growth capital, but the limited access that a small number of them may have does not suit their needs. Along with Visa and a world-class group of Investors and Advisors who strongly believe it doesn’t have to be this way, it is Plurall’s collective mission to build that platform – first in Colombia, and then across Latin America.
This mission will be led by a team of Co-Founders who have collectively acquired over two million account holders in Colombia, expanded across 8 countries in Latin America, and lent over four billion dollars to SMEs and entrepreneurs in the US and Latin America.
Plurall seeks a renewed approach to providing trailblazing fiscal services to entrepreneurs and SMEs that have arrived late into the FinTech revolution. Despite decades of market presence & dominance, and product design experience, the firm believes that an ideal financial services portal must be accessible, spontaneous, user-friendly, and transparent.
The digital revolution has avoided the most versatile SMEs in financial services, but the limited access possessed does not complement their requirements. Plurall’s collective mission is to fabricate a portal, first of its kind in Colombia, alongside Visa and an international group of investors and advisors. Eventually, the firm aims to expand across the Latin American region.