Colombian SME financing fintech KLYM, formerly known as Omni Latam, announced a $27 million investment round led by JPMorgan and the International Finance Corporation (IFC).
The IFC is a World Bank entity that focuses on the private sector in developing countries. The startup already had an alliance with JPMorgan related to customer financing.
With this round, the Colombian company has raised more than $200 million in financing, although approximately half of that amount corresponds to equity.
According to Bloomberg News, the fintech will use the capital to expand, with Brazil being the company’s priority market, where they opened an office in 2022. The markets where they have been operating for some time are Colombia and Chile.
In October, the fintech executed a name change to KLYM, citing its intention to reach countries outside Latin America. CEO Diego Caicedo told Bloomberg that they plan to raise more capital this year and believe that the company will become profitable after quadrupling revenues last year.
Previously, Omni Latam had made headlines for, among other things, being acquired by British firm Greensill Capital and then bought back by its founders when the foreign firm filed for bankruptcy.