US investment bank Citi makes its first Latin American fintech investment by acquiring a stake in Peruvian FX platform Rextie.
Facts
- Citi’s “strategic investment” in Peruvian fintech Rextie aims to support growth and attract more SMBs.
- Citi plans to integrate its FX technology (CitiFX Pulse and Instant Payments) into Rextie’s services for automation, real-time payments, liquidity, and competitive rates.
- Rextie, based in Lima, has facilitated over $4.5 billion in forex transactions since 2016 and expects to reach $7 billion by the next year.
- Rextie offers currency exchange, factoring solutions, and payment processing services for businesses.
- Aldo Alvarez, Citi’s lead for LatAm strategic investments, praises Rextie’s high growth and strong client base.
- Exact terms of the investment made by Citi’s institutional strategic investments (ISI) arm remain undisclosed.
