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

Greece's Kerstin Trikalitis, Co-Founder of Out There Media, Joins Jury at the 2014 Cannes Lions Festival

July 10th, 2014 — by admin

Endeavor Entrepreneur Kerstin Trikalitis, co-founder of Greece's Out There Media, was recently named to the jury in the "Mobile" category at the 2014 Cannes Lions Festival, a premiere international aw…

Read more

In the news

Brazil's Bebê Store Announces Acquisition of Competitor Baby.com.br; Receives Investment From Endeavor Catalyst

July 24th, 2014 — by admin

Bebê Store, a leading online baby goods retailer in Brazil co-founded by Endeavor Entrepreneur Leonardo Simão, recently announced the acquisition of Baby.com.br, one of its main competitors in the…

Read more

Contact us

Press center

Community

Newsletter Sign Up