Kontempo

Kontempo is a Mexican B2B BNPL platform primarily focusing on SMEs in the Latin American region. It offers net terms of 30, 60, or 90 days for offline or online purchases and companies can add BNPL options which do not require credit card or bank account information at the checkout using Kontempo’s API. The platform uses a proprietary algorithm that uses a range of undisclosed factors to evaluate creditworthiness. This allows Kontempo to tap into a wider segment of SMEs that typically would be rejected for credit. The platform monetizes through a fee per transaction. The company has a merchant footprint of more than 25 (August 2022) and expects a monthly payment volume of USD 1 million by the end of 2022.

Funding and Financials

In August 2022 the company had raised USD 31.5 million in a seed funding round (equity – USD 6.5 million and debt – USD 25 million), which had been led by Canadian venture capital firm Portage. The fresh funds are said to be used to expand its merchant network, develop its technology and double its 11-person team by the end of 2022.