Ubanku

Ubanku, a Colombian fintech company headquartered in Bogota, is developing a neobank tailored for the youth market in Latin America. Founded in 2014, the company initially operated under the name Enlau as an online marketplace connecting students with products and services within the university ecosystem. The transition to Ubanku marks a strategic pivot towards addressing the financial needs of university students and young people. The company was co-founded by Andrés Méndez, who serves as CEO, and Andrés Franco, the COO. They are joined by Diego Tovar, a former executive at Deloitte and Everis, who brings corporate experience to the entrepreneurial team.

With a mission to foster social and financial inclusion, Ubanku aims to be a "financial guru" for the younger generation. The business model revolves around creating a single platform that integrates an ecosystem of products and services, combined with a learning experience to help users make better financial decisions. The company generates revenue and provides value through a digital wallet that allows users to purchase items and receive cashback. A key feature is the ability for users to invest in a token backed by a Certificate of Deposit (CDT), which can be used for purchases within the app or withdrawn as cash. Previously, as Enlau, the company had a significant social impact, with thousands of students participating in entrepreneurship courses, generating income, and volunteering for NGOs.

In late 2022, Ubanku secured $1 million in a pre-seed funding round with participation from Newtopia VC, Irie VC, and EF Venture Capital, alongside angel investors from prominent companies like Finaktiva, Hubspot, PayU, and Google. This capital injection is intended to fuel the launch of its digital bank, which started with a beta version in Colombia. The company has long-term ambitions to expand its presence to other Latin American markets, including Mexico, Peru, and Chile, targeting major universities in these countries. Ubanku operates in the competitive fintech landscape, with a focus on differentiating itself by building a purpose-driven platform specifically for the financial journey of young adults.

Keywords: neobank, fintech, financial education, youth banking, student economy, digital wallet, cashback, social impact, asset management, Latin America, Colombia, university ecosystem, financial inclusion, investment token, CDT-backed token, Gen Z finance, Andrés Méndez, Andrés Franco, Diego Tovar, Enlau