CULQI

About CULQI

Culqi operates as a Peruvian financial technology company providing digital payment solutions for businesses within Peru. The company was founded in 2013 by Amparo Nalvarte and Nicolás Di Pace, who conceived the idea as part of a final university project at Universidad del Pacífico. Their journey began after identifying a significant gap in the market: the complex and expensive process for businesses, especially smaller ones, to integrate online payment gateways. Initially exploring QR code payments, they pivoted during an acceleration process with Wayra Perú to develop a more comprehensive payment gateway, addressing the poor user experience offered by existing solutions.

The company's business model is commission-based, charging a fee for each successful transaction processed through its platform, with no monthly or setup fees. This model caters to a wide range of clients, from small and medium-sized enterprises to large corporations like educational institutions, retailers, and restaurants, enabling them to accept a variety of payment methods. In a significant milestone, Credicorp, a major Peruvian financial holding company, acquired a stake in Culqi in a deal that closed in late 2018 and was announced in early 2019, providing substantial backing and integrating Culqi into its Krealo innovation arm. This strategic partnership was designed to enhance Culqi's service offerings and expand its reach.

Culqi's product suite is designed for both online and in-person transactions. "Culqi Online" is a payment gateway that integrates into websites and mobile apps via plugins and APIs, allowing merchants to accept credit cards, debit cards, and local alternative payment methods like PagoEfectivo. For physical points of sale, "CulqiFull" (formerly Culqi POS) offers a wireless device that supports contactless payments and transactions via major cards and digital wallets. The company also provides "CulqiLink," a feature for generating payment links that can be shared via social media or email, and "Culqi Express," a mobile app that allows businesses to process payments from a smartphone. All these services are managed through a central dashboard called "CulqiPanel," which gives businesses real-time insights and control over their sales and operations.