# Fintoc

**Source:** https://geo.sig.ai/brands/fintoc  
**Vertical:** Finance  
**Subcategory:** Accounting Software  
**Tier:** Emerging  
**Website:** fintoc.com  
**Last Updated:** 2026-04-14

## Summary

Chilean open banking API for instant A2A bank payments in Chile and Mexico; $10.19M YC W21-backed processing 13% of Chile's population at lower cost than credit cards through Fintec regulation.

## Company Overview

Fintoc is a Santiago, Chile-based open banking API company that enables online businesses to accept instant account-to-account payments directly from customers' bank accounts — bypassing credit card networks and their 2-3% processing fees — in Chile and Mexico. Founded by Cristobal Griffero and Lukas Zorich and backed by Y Combinator (W21) with $10.19 million raised including a $7 million Series A in April 2024 led by Propel with Monashees participation, Fintoc processed payments for 1.8 million+ people in 2023 (representing 13% of Chile's population) and serves 1.2 million+ monthly users.

Fintoc's open banking infrastructure connects to Chilean and Mexican bank APIs to verify account ownership and initiate bank transfers in real-time — providing the same "pay from bank account" functionality that PIX (Brazil) and faster payments systems enable in more mature markets. For e-commerce merchants, Fintoc offers lower payment processing costs than credit cards (no per-transaction percentage), real-time settlement, and conversion rates that approach credit card performance. For consumers, payment is direct from checking account without the credit card as intermediary.

In 2025, Fintoc competes in the Latin American open banking and A2A payments market with Kushki (Ecuador-based payments), CONEKTA (Mexico payments), and Khipu (Chilean payments) for open banking-powered payment processing in LATAM. Chile's Comisión para el Mercado Financiero has advanced open banking regulation (Ley Fintec 2023) that mandates bank API connectivity, providing Fintoc with regulatory support for its infrastructure. Mexico's open banking framework (CNBV regulation) is Fintoc's expansion market. The combination of lower merchant fees and regulatory tailwinds makes A2A payments a significant opportunity to displace card networks in LATAM markets where credit card penetration is lower than in North America. The 2025 strategy focuses on Mexico market expansion, deepening the merchant integration catalog (Shopify, WooCommerce), and building the reconciliation and reporting infrastructure that CFOs need.

## Frequently Asked Questions

### What is Fintoc?
Fintoc is a Santiago, Chile-based open banking and account-to-account payments API company founded in 2020. The company enables online businesses to accept instant payments directly from customers' bank accounts in Chile and Mexico.

### What products and services does Fintoc offer?
Fintoc offers an account-to-account payments API, open banking platform, instant payment infrastructure, bank account integration, and payment verification API. These services enable businesses to process payments directly from customer bank accounts.

### Who is Fintoc designed for?
Fintoc is designed for online businesses that want to accept instant payments directly from their customers' bank accounts. The platform serves companies operating in Chile and Mexico.

### When was Fintoc founded?
Fintoc was founded in 2020 by Cristobal Griffero and Lukas Zorich. The company participated in Y Combinator's Winter 2021 (W21) batch.

### Where is Fintoc located?
Fintoc is based in Santiago, Chile. The company is expanding its operations to Mexico as a primary market.

### How much funding has Fintoc raised?
Fintoc has raised $10.19M in total funding. This includes a $7M Series A round in April 2024 led by Propel with Monashees, and a previous $3M seed round in June 2021.

### What are Fintoc's key achievements and metrics?
In 2023, over 1.8 million people used Fintoc for payments, representing approximately 13% of Chile's population. The company currently serves 1.2M+ monthly users in Chile.

### What technology approach does Fintoc use?
Fintoc uses open banking technology and account-to-account payment infrastructure to enable instant payments. Their API-based approach allows businesses to integrate direct bank account payments into their platforms.

### Who are the founders of Fintoc?
Fintoc was founded by Cristobal Griffero and Lukas Zorich in 2020. The company was part of Y Combinator's Winter 2021 cohort.

### What are Fintoc's recent developments?
Fintoc raised a $7M Series A in April 2024 led by Propel with Monashees. The company is expanding to Mexico as its primary revenue source while continuing to serve 1.2M+ monthly users in Chile.

## Tags

b2b, fintech, api-first, latin-america, startup

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*Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*