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🇦🇷 Argentina /Technology

UIN raises $2 million as Argentine startup targets Latin American expansion

From La Nación · () Spanish

Translated from Spanish and summarized by DistantNews. Read the original for the full story.

At a glance

In-depth Named sources New plan
  • Buenos Aires-based startup UIN raised a $2 million seed round to expand across Latin America and develop its user-engagement platform.
  • Its BehaviorOS platform integrates with financial apps through APIs, using transaction data and artificial intelligence to tailor missions, challenges and incentives.
  • UIN has 10 clients in Argentina, Mexico, Peru and Ecuador, while its technology reaches more than 80 million users and analyzes over 300 million transactions.

Getting people to download an app is only the beginning. The harder task for banks, fintech companies and digital wallets is persuading users to return, use the product regularly and resist competing services. That challenge prompted Facundo Corsi and Manuel Heredia, the entrepreneurs behind n1u, to build their new company, UIN.

A year after its creation, the Buenos Aires startup has raised a $2 million seed round. It plans to use the funding to accelerate commercial expansion in Latin America, strengthen its technology platform and enlarge its commercial and engineering teams.

UIN has developed an engagement infrastructure that connects to existing customer applications through an API. Its BehaviorOS platform receives information about users’ transaction behavior, identifies patterns and determines which action might help each client reach a specific goal.

Through gamification and different behavioral mechanics, we understood that users do not stay with a wallet because of the incentive, but because of a purpose.

· Facundo CorsiCorsi explained the thinking behind UIN’s engagement platform.

Those goals can include reactivating people who stopped using an app, increasing transaction frequency, promoting a new feature or reducing customer churn. The platform can respond with personalized missions, challenges, streaks or incentives, using artificial intelligence to decide which stimulus to apply and when.

The company currently works with 10 clients in Argentina, Mexico, Peru and Ecuador. Its 12-person team supports technology that reaches more than 80 million users and analyzes over 300 million transactions. Regional fund Ewa Capital led the funding round, joined by investors from the United States, Chile, Brazil and Mexico, as well as angel investors.

Corsi said the company’s approach grew from a belief that users do not remain with a digital wallet simply because of an incentive. “They stay to pursue something that really interests them within the product,” he said. UIN’s aim is to build that purpose into the financial services people already use.

They stay to pursue something that really interests them within the product, and with that vision we built UIN.

· Facundo CorsiHe described how the startup seeks to improve retention through personalized product experiences.
About this summary

Originally published by La Nación in Spanish. Translated, summarized, and contextualized automatically by DistantNews, with a note on how the source frames the story. Not individually reviewed before publishing. How this works.

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