Ábaco

About Ábaco

Ábaco is a financial technology firm from El Salvador addressing the liquidity challenges faced by small and medium-sized enterprises (SMEs) in Central America. The company was established in March 2023 by co-founders Alejandro McCormack, Carlos Villalobos, and Moises Hasbún. The founding team's collective experience in financial technology is a core asset that has attracted investor confidence.

The firm's primary business is providing working capital to SMEs through a fully digital platform. Ábaco's core service allows businesses to convert their accounts receivable into immediate cash, a process known as digital factoring. This mechanism is designed to grant access to liquidity in under 24 hours, helping clients manage their cash flow, cover operational needs, and seize growth opportunities without the lengthy procedures of traditional banking. The business model centers on facilitating this financing and making money on these transactions. The company serves a range of clients from micro-enterprises to larger corporations.

Ábaco's platform utilizes a proprietary risk and credit decision engine that leverages artificial intelligence, big data, and automation. This technology analyzes regional SME data and real-time information to conduct a dynamic risk assessment, enabling rapid approval of credit lines. A significant milestone was achieved in August 2024, when Ábaco secured a $4 million pre-seed funding round. This round was supported by a consortium of venture capital firms, including Caricaco Ventures, Cacao Capital, Innogen Capital Ventures, Invariantes Fund, Mercy Corps Ventures, and Bridge Latam. The capital is intended to fuel the development of new financial products, support expansion into new Latin American markets, with a stated goal of entering Guatemala, and grow its client base.