Takenos Raises $7 Million to Build Stablecoin Financial Network in Latin America

Takenos, a Latin American fintech company, said on Nov. 5 that it had raised $7 million to build a stablecoin-based financial network. The company plans to expand its services from six countries to more than 15 by 2027.

Takenos supports cross-border money transfers for individuals and businesses by directly securing country-specific payment rails and financial licenses. It offers cards and U.S. dollar accounts to individuals, while providing businesses with APIs for payroll, remittances and treasury management. The company also partners with Stripe, Mastercard and Visa.

Takenos said its annual transaction volume has exceeded $5 billion within four years of its founding. It currently serves millions of users in Argentina, Bolivia, Ecuador, Peru, Paraguay and Guatemala. Its corporate clients include LATAM Airlines and energy and mining companies in Bolivia.

With the new funding, the company plans to accelerate the expansion of financial infrastructure across Latin America. It aims to support conversions among local currencies, U.S. dollars and stablecoins, while broadening its business from consumer financial services to platforms for small and medium-sized businesses and transaction services for institutions.

Lucas Posada, Takenos co-founder and chief executive officer, said the company did not simply build an app on top of another firm's payment network. Instead, it built its own licensing framework, stablecoin infrastructure and country-specific fiat conversion network. The latest funding will serve as a springboard for expansion into other Latin American markets, he added.

A North Island Ventures official said Takenos is building compliant stablecoin infrastructure in a market other companies have largely ignored. The investor added that the company has the potential to become a leading financial network in Latin America.