Our Entrepreneurs

José Fernando Vélez

PayU LatAm

José Fernando Vélez José Fernando Vélez
“I saw an opportunity to build a leading online payment company in Latin America.”
Country
Colombia
Industry
Technology
Employees
110
Year selected
2010
partner
Martin Schrimpff
Website

Company Snapshot

As the PayPal of Colombia, PayU LatAm (formerly PagosOnline) specializes in integrating local forms of payment—such as cash or bank transfers—into their online payment platform. In Colombia, the percentage of internet users has grown to 42% (up from 11% four years ago) and the nascent e-commerce market is growing 40% annually…yet credit cards are only used by 17% of the population. By meeting the demands of a new type of online shopper, PayU LatAm has become a domestic industry leader, capturing a majority of transactions of the Colombian e-commerce market.

Now, Jose and Martin have their sights on Latin America’s US$28 billion e-commerce market. With a stable of international clients such as Sony, Telefónica and Amway, PayU LatAm is poised to expand throughout the continent. Their vision is to offer alternative local payments to international merchants and grow PayU LatAm into the leading Latin American online payment company by 2020.

From the Entrepreneurship Blog

Events

Endeavor eMERGE Dubai Convenes 40+ Entrepreneurs and Network Members to Highlight Human Capital

September 25th, 2014 — by admin

Endeavor hosted an Endeavor eMERGE event in Dubai this month, bringing together top members of the network from the MENA region for two days of networking, workshops and discussion. With a particular…

Read more

In the news

Endeavor Catalyst Participates in Recent Funding Round for Uruguay's Scanntech

September 30th, 2014 — by admin

Endeavor Catalyst recently joined the funding round for Uruguay's Scanntech, a leading technology platform that connects retailers in emerging markets to consumer products companies, financial institu…

Read more

Contact us

Press center

Community

Newsletter Sign Up