UnDosTres closes Series B funding round with $30m

UnDosTres, a platform for digital payments, has raised $30 million in a Series Bfundraising round, the Mexico City-based business reported in a news statement on July 6.

The fintech was launched in 2015 by businessmen Vikram Deswal, Naveen Sharma, and Arpit Gupta. It offers services like airtime top-ups, service payments, and entertainment purchases.

According to the press statement, IDC Ventures led the round, which also included current investors IGNIA and Dalus Capita as well as new investors Telegraph Hill Capital, AI8 Ventures, and Benber LP.

According to the press release, over a million consumers paid using UnDosTres in the previous year. The platform is intended to assist Mexican citizens with more than 100 services, including the payment of utility bills for things like energy, water, gas, television, or cell phones.

Customers can purchase a variety of goods through UnDosTres, including gift cards and cinema tickets. According to the press release, the company is also creating “financial and technological products under the premise of ‘simple, fast, easy and secure’ for the consumer.”

The business stated in the announcement that there is an opportunity for expansion. Alejandro Rodriguez, a Managing Partner at IDC Ventures, highlighted that 85% of consumers in Mexico have never completed an online payment.

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