Argentine fintech Takenos raised a US$7 million seed extension. North Island Ventures and Road Capital Management led the round, with Variant, Lattice, and Reverie participating. The company uses stablecoins to move money across currencies and borders.
Use of funds
The extension brings Takenos' total funding to US$12 million. New capital will fund new products and additional hiring. The company will add staff in engineering, compliance, and sales.
Where Takenos operates
Takenos was founded in 2022 and operates in six countries. These markets are Argentina, Bolivia, Ecuador, Peru, Paraguay, and Guatemala. The company processes more than US$5 billion in annual transactions and serves millions of users.
Platform and clients
Takenos offers dollar accounts, cards, and corporate APIs for payments, payroll, and treasury management. It also operates an institutional trading desk and works with Stripe, Mastercard, and Visa. Clients include LATAM Airlines and energy and mining companies in Bolivia.
Takenos plans to expand into more than 15 Latin American countries by 2027. It will obtain licenses and build local rails in each new market. The company also aims to scale its enterprise API business with global corporations.