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Nequi

“Can a Bancolombia spin-out become Latin America's default consumer-and-SMB financial OS by combining a 27M-user wallet, embedded SMB acquiring, and exportable wallet infrastructure?”

Founded2016
HQMedellín, Colombia
FoundersAndrés Vásquez
Total raised$130M (latest disclosed round)
Latest roundLater Stage VC, $130M
IndustryFintech / Neobank
The story

Born in 2015 as an intrapreneurship inside Grupo Bancolombia, Nequi launched as a mobile-first wallet for unbanked Colombians and scaled to 27M+ users. It then matured into a regulated 'Compañía de Financiamiento' (Nequi S.A.) under Grupo Cibest, and expanded its product surface from a P2P wallet to a full SMB-and-consumer platform: card acquiring via Wompi, lending (Salvavidas, Propulsor, Crédito Negocios), embedded insurance, Payoneer cross-border inbound, and open APIs (Nequi Conecta). A parallel international play launched in El Salvador in 2025 on Inswitch's wallet-as-a-service, signaling a model where Nequi can be packaged for other LATAM banks.

Last 12 months
2025-03
2025-05
2025-06
Product timeline
2015
Founded as an intrapreneurship inside Grupo Bancolombia at Universidad EAFIT· founding
2016
Public launch as a digital financial platform in Colombia· banking
2020
Launched Segurísimo customizable insurance product· insurance
2025
Launched Nequi Negocios with Wompi enabling card acquiring and payment links· payments
2025
Partnered with Payoneer to enable USD/EUR cross-border inbound payouts converted to COP· cross-border
2025
Partnered with Inswitch to launch Nequi in El Salvador as a business unit of Bancoagrícola/Accelera· expansion
2025
Spun out into Nequi S.A. Compañía de Financiamiento as a regulated subsidiary of Bancolombia/Grupo Cibest· regulatory
Regulated entities
1
regulatory licence held by Nequi
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
6 layers disclosed in Nequi’s embedded-finance stack
Payments / PSP
Wompi (Bancolombia group)Nequi QR / Push Payment APIs (self-operated)Nequi Negocios softPOS (self-operated)
Banking / BaaS
in the full report
Card issuing
in the full report
Lending
in the full report
Sponsor bank
in the full report
FX & payouts
in the full report
Accounting gap: minor
10 more providers across 5 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.