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Tilopay

“Can Tilopay become the default payment gateway infrastructure for SMBs across Central America and the Caribbean by offering local payment method coverage, platform integrations, and subscription billing without monthly fees?”

Founded2019
HQEscazú, San José, Costa Rica
Total raised$2.5M
IndustryFintech / Cross-border payments
The story

Founded in 2019 in Costa Rica, Tilopay positioned itself as the leading online payment gateway for Central America and the Caribbean, accepting local cards and regional payment methods with no monthly fees. The company expanded from a basic card-acceptance gateway to a multi-product platform including Payment Links, QR Codes, Subscription Billing, and 90+ platform integrations targeting retail, tourism, and services verticals. Operating as a non-bank payment processor supervised only for AML/CFT purposes by the Costa Rican FIU, Tilopay's strategic bet is on becoming the default digital payments infrastructure for underserved SMBs across Latin American and Caribbean markets.

Last 12 months
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Product timeline
2019
Tilopay (Tilo Pay Soluciones Comerciales Ltda.) founded in Escazú, Costa Rica as an online payment gateway for Central America and the Caribbean.· pivot
2021
Expanded platform integrations to support 90+ global e-commerce platforms including Shopify, WooCommerce, WIX, VTEX, and Magento.· banking
2023
Launched subscription billing product enabling automated recurring payments across Central America and Caribbean markets.· banking
2024
Reached 65,000+ merchant customers and expanded to 30+ countries across Central America, the Caribbean, and beyond.· pivot
Regulated entities
1
regulatory licence held by Tilopay
Licence types, jurisdictions and registered entities are in the Embedded Finance Index report.
The stack
1 layer disclosed in Tilopay’s embedded-finance stack
Payments / PSP
Tilopay (self-operated)
Accounting gap: significant