Koywe acquires Chilean fintech Facto to target North American market

Chilean paytech startup Koywe acquired Facto for an undisclosed amount, 15 months after Koywe’s $2.5M seed round in January 2023. 

With the acquisition, Koywe aims to leverage Facto’s founder Mickle Foretic‘s experience in the U.S. Federal Reserve’s Business Payments Coalition to launch a new invoicing standard in the United States.

Koywe offers cross-border payments through crypto, while Facto helps SMBs integrate its online sales tech stack with a standardized payment and invoicing solution.

“Together we have a much better chance of winning a fight in the United States, which is big. In the end an entrepreneur’s ambition is to say ‘you know what? Let’s go for the jackpot’, and the jackpot for someone who was born in Chile is to have a successful company in the United States that connects all of America,” said Ignacio Detmer, co-founder of Koywe.

Founded in 2021, Facto processes over $1.2B in transactions annually.

Read more on LatamFintech Hub.