Colombia’s Yuno secures $10m seed investment

Colombia-based startup Yuno has raised $10 million in a seed funding round, co-led by Monashees, Kaszek and Andreessen Horowitz, which will help it provide Latin American companies with an “easy online checkout solution”.

Silicon Valley-based venture capital firm Andreessen Horowitz provided an initial investment as part of the firm’s program for fintech start-up founders.

Yuno also received investment from Nazca, Latitud, OneVC, Opera Ventures, Saurabh Gupta, partner of DST Global, and angel investors including Simon Borrero, co-founder and CEO of Rappi, Ricardo Weder of Justo, Sujay Tile of Merama, Gerry Giacomán Colyer of Clara,  Enrique Villamarin of Tul, Maria Echeverri of Muni and the Bilbao brothers.

“Accepting and optimising online payments shouldn’t be a pain for companies. We want to build the ultimate solution to help them make online checkout fast, easy and safe so that companies can focus on their core business,” says Julián Núñez, co-founder of Yuno.

Juan Pablo Ortega, co-founder of Yuno, met Núñez at Colombian delivery start-up Rappi, where they worked together in the payments team.

“Latin America’s payment ecosystem has been through a radical digitisation process in the past couple of years,” said Fabiola Quinzaños, principal at Monashees.

“However, there are still huge pain points in how merchants get paid, how these payments are orchestrated and how to provide a seamless experience for customers. It’s a multi-billion dollar problem in the region, and Yuno’s approach will be the solution.”