Started by Rappi‘s co-founder Juan Pablo Ortega and Rappi‘s executive Julián Núñez, Colombia-based Yuno has raised a $10 million seed round co-led by Andreessen Horowitz, monashees, and Kaszek. The fintech’s primary goal is to offer Latin American companies an easy online checkout solution capable of solving the pain point of managing multiple payment methods and fraud detection tools.
“Accepting and optimizing online payments shouldn’t be a pain for companies. We want to build the ultimate solution to help them make online checkout fast, easy and safe so that companies can focus on their core business,” said Julián Núñez, co-founder at Yuno, in a press release.
The two-month-old startup states that it is already working with several large-sized e-commerce companies in Latin America, “helping them reallocate resources from payments and fraud into their core business while dramatically improving their checkout conversions.”
Ortega and Núñez met at Rappi while working together in the payments team and while the company was expanding to nine different countries. Ortega built and scaled Rappi‘s Payments and Fraud teams and capabilities while architecting the buildout of Rappi‘s financial services arm, RappiBank. Núñez created Rappi‘s one-click checkout, Paga con Rappi, and led Rappi‘s e-commerce business unit.
Nazca, Latitud, OneVC, Opera Ventures, Saurabh Gupta, partner of DST Global, and angel investors including Simon Borrero, co-founder and CEO at Rappi, Ricardo Weder of Justo, Sujay Tile of Merama, Gerry Giacomán Colyer of Clara, Enrique Villamarin of Tul, Maria Echeverri of Muni and the Bilbao brothers also invested in Yuno.