Colombian startup Portal Finance wins funding

Bogota, Colombia-based startup Portal Finance has secured an undisclosed equity investment from Magma Partners.

The company’s technology is designed to analyse information from electronic invoices to support financial decision making.

It claims its APIs process more than half a million invoices each day and also aims to help SMEs to find factoring companies.

Portal Finance operates a second office in Santiago, Chile and received the investment after winning Magma Partner’s recent FinTech startup competition.

The VC firm is based across Los Angeles and Santiago, backing business in Latin America targeting the US and European markets as well as B2B companies selling into Latin America.

Magma has made more than thirty investments to date.

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