Chilean fintech Shinkansen closes a $3 million seed round to speed up its expansion plans
To speed up its expansion plans and launch operations in Mexico, Peru, and other parts of Latin America, Chilean fintech startup Shinkansen has secured $3 million in a seed investment round led by ALLVP, a Mexican venture capital firm.
Shinkansen, named after Japan's famous high-speed rail network, aims to revolutionize money transfer and transactions in the banking and fintech sectors in the LatAm region. It has got big plans to provide a solution that will make moving money fast and seamless.
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It plans to do this by offering a unique and simple API integration that cuts through the complications of country-specific integrations in the fragmented Latin American market. By leveraging the power of Artificial Intelligence, Shinkansen automates operations and integrates its APIs with banks in Chile, Colombia, Mexico, and soon Peru. This means smoother transactions and improved efficiency for users.
Importantly, the company's business model is "regulator-friendly," as it does not directly handle the flow of money, ensuring security and traceability in every transaction.
With the fresh funding, Shinkansen is ready to take its ambitious expansion plans of bringing its services to new markets and strengthening its foothold in Latin America to the next level. It also reflects investor confidence and interest in Latin American startups.
The $3 million investment saw participation from Salkantay, Chileventures, and Pedro Pineda, co-founder of Fintual.