Lana Fintech

About Lana Fintech

Lana Fintech operates as a financial technology platform focused on providing accessible financial services to traditionally underserved populations in Latin America, with an initial concentration on gig economy workers. Founded in Madrid in 2019 by CEO Pablo Muñiz, the company addresses the financial exclusion of individuals who often lack the consistent income verification required by conventional banks. Muñiz, with a background in telecommunications engineering, information technologies, and extensive experience in fintech ventures and consulting, co-founded Lana to bridge this gap.

The company's core offering is a mobile application that functions as a comprehensive financial hub. Through the app, users can open a fully digital account, enabling them to save money, perform transfers, and pay for services. Lana's business model encompasses both B2C and B2B services. For individual users, the platform provides a tiered pyramid of services, starting with basic banking and payments, and extending to future benefits like discounts and access to financial products such as micro-loans, insurance, and healthcare access. For businesses that employ gig workers, Lana offers a peer-to-peer payment system designed to eliminate the high costs associated with the frequent wage payments typical in the gig economy.

A significant milestone for the company was securing a $12 million Series A funding round in August 2020, led by Base10 Partners with participation from Cabify and Cathay Innovation. This investment was aimed at fueling expansion across Latin America, including its established markets of Mexico and Chile, and a planned launch in Peru. The platform has been noted for its role in facilitating credit access for gig workers, particularly during the financial strains caused by the COVID-19 pandemic. Although founded in Madrid, Lana has established operational hubs in Mexico and Chile to serve its target market.