A 30% increase in sales is what the use of debit and credit payments entails for businesses in Colombia, on average. This is the reason why Cajero, a startup that now joins TheVentureCity’s Growth Program, is growing steadily among Colombian retailers. Cajero offers a payment process that works through an app, a mobile phone, and a unique terminal. This startup brings credit card payments closer to businesses for a better purchasing experience and increased growth.
Cajero is disrupting payments in Colombia, where it is headquartered, because of a sobering reality: An overall non-inclusive financial system in Latin America, where banks and card networks impose high fees and ever-changing requirements for businesses to have access to debit or credit card payments.
Their target clients are small businesses, such as hair parlors, small supermarkets and stores who, until now, “could not afford” to have a digital payment system.
Gerardo Aristizabal and Carlos Neira, founders of Cajero and Colombian nationals themselves, thought this reality needed to change and decided to systematize payment processes in a massive scale. Their target clients are small businesses, such as hair parlors, small supermarkets and stores that, until now, “could not afford” to have a digital payment system in place.
Their desire to scale globally and find trusted allies led them to discover TheVentureCity. “I began searching online, scanning articles and different opportunities, when I discovered TheVentureCity. I decided to send the application to the Growth Program and Ricardo (Sangion) contacted us. Soon enough, we knew that it was the best course of action to structure our company, grow better, and be more organized. At the beginning, we used to be carried away by emotions, but now, we learned to make decisions based on data”, said Gerardo.
Cajero.co’s business model is constantly evolving. Beyond a payment platform, they aim to provide loan services, keeping retailers (their final customers) in mind. Furthermore, they plan to scale up to wireless payments, for example, through wallets and smart phones, all of which are not yet consolidated in Latin America.
For Ricardo Sangion, VP of the Growth Accelerator in the Americas: “Cajero is making it easier, faster and affordable for any business in Colombia to accept credit cards and also allowing them to have a better control of their sales, even when it’s paid in cash. It is a very strong team of entrepreneurs with a successful track record, working together for many years in the digital space.”
We are happy to welcome Cajero to the family!