Abaco Capital

About Abaco Capital

Ábaco Capital is a fintech company that provides digital financial solutions for small and medium-sized enterprises (SMEs) in Latin America. Founded in March 2023 by Carlos Villalobos, Moisés Hasbún, and Alejandro McCormack, the company was created to address the inefficiencies of traditional financial systems and democratize access to business credit. The founders identified a need for simpler and faster access to capital for businesses facing cumbersome, paper-based loan application processes.

The company operates a fully digital platform that allows businesses to manage their accounts receivable and payable, anticipate liquidity needs, and access financing. Ábaco's primary service is converting accounts receivable into immediate liquidity, providing businesses with cash flow in under 24 hours through a process that is transparent and does not require collateral. Its product suite includes 'CashX' for invoice financing, 'ProntoCash' for financing supplier payments to strengthen the supply chain, and 'Ábaco Pay' for extending credit terms on payments to suppliers. The business model is designed to serve both SMEs and larger corporations, offering tailored financing solutions for each segment.

Since its launch, Ábaco has reported 30% monthly growth as of mid-2024 and secured a $4 million pre-seed funding round to support its lending capacity. Initially operating in El Salvador, the company has plans to expand its services to Guatemala and Panama, with a long-term vision of serving other underserved markets in South America such as Peru, Ecuador, Bolivia, and Paraguay.