According to a TechCrunch article, the investment is intended to strengthen Fintoc's position in its home country of Chile as well as in Mexico, where the business began operations last year.

Leading the $7 million in fundraising was the American fund Propel, which received contributions from the Brazilian fund Monashees, which has a strong interest in Mexico.

Accounts to accounts (A2A) is a payment technique wherein internet companies take payments directly from their customers' bank accounts. Fintoc provides an API for this purpose. This technology lowers the number of middlemen and firms' commission fees, offering a cost-effective substitute for traditional credit card transactions.

The firm expects that over the next two years, Mexico will be the primary driver of its revenue growth, therefore the fresh capital will mostly be utilized to increase Fintoc's presence in this important region. With a strategic focus on Mexico, Fintoc hopes to take advantage of the nation's comparatively low rate of financial inclusion in order to gain a sizable portion of the market.

Cristóbal Griffero, the CEO of Fintoc, emphasized the value of entering the market early: "If we are there right before this boom, we'll be able to grow with the market."