Loto Punto

Loto Punto is a Colombian fintech company that provides a network of multi-purpose transactional kiosks designed to serve the unbanked population in remote areas. The company was founded in 2013 by Víctor Espinoza, an business administration graduate from the Universidad de los Andes, who started the venture as a lottery ecommerce platform before pivoting to a broader range of cash-based services.

The firm's core product is its self-service vending machines that operate using Internet of Things (IoT) principles. These kiosks allow users to pay for utility bills, purchase lottery tickets, top-up phone credit, buy subscriptions to entertainment platforms like Netflix and Spotify, and perform banking transactions. The business model targets regions with low internet penetration and a cultural preference for cash transactions, installing the machines for free in high-traffic commercial locations. This approach creates a low-cost IT infrastructure, as the kiosks are self-service and do not require staff to operate.

Loto Punto has achieved several key milestones, including becoming a finalist for iNNpulsa Colombia in 2018 and participating in an acceleration phase with Google. In 2020, the company secured seed capital from Fiducoldex to expand and develop an autonomous kiosk for micro-payments. A significant development was a contract with the Secretary of Economic Development of Bogotá to introduce international remittances using blockchain technology. In early 2024, Loto Punto formed a strategic partnership with the U.S.-based accelerator TechStars, which included an investment to support customer discovery and capital raising.

Keywords: Fintech, transactional kiosks, cash payments, unbanked population, IoT, bill payments, international remittances, self-service, lottery services, financial inclusion