Increase closes a $3M Round to strengthen regional expansion
Increase, a company that boosts business through technological solutions and part of NXTP Labs’ portfolio, recently announced that has received a capital injection of 3 million dollars.
This investment will be used to launch new products and accelerate Increase’s expansion and growth in Latin America.
The investors in this last round were: Agrega Partners, Revolution’s Rise of the Rest Seed Fund, Grupo Supervielle, Mercado Libre Fund, ArFintech and Lucens Capital.
This investment has two main objectives: the first is to accelerate Increase’s expansion in Ecuador, the Dominican Republic and Peru. The second aims to improve the products being developed for its user base. To achieve these product improvements, they will expand their work team: Increase’s team currently has 40 people and more than 25,000 merchants use their different solutions daily in Argentina. In the next 18 months it is expected to exceed 75 people and reach 100,000 stores.
“We are very happy with each one of the investors who trusted Increase in this new stage, mainly because they share the vision of strengthening businesses, connecting them to each other and generating a positive impact on the regional economy”, mentioned Sebastián Cadenas, CEO of Increase.
“For more than 4 years we have been focusing on more and more businesses having technology that allows them to increase their margins, reduce their costs and generate prosperity. These new products and countries where we are expanding continue to be the beginning of a great story,” added Agustín Pagnoni, CTO of Increase.