Mexican Fintech Klu Tech Secures Operating License from CNBV

Klu Tech, a Mexican fintech focusing on SMEs, has received an operating license under the Electronic Payment Fund Institutions (IFPE) model from the National Banking and Securities Commission (CNBV). This approval brings the total number of fintech companies operating in Mexico to 69.

The operating license enables Klu Tech to provide services such as issuing, managing, reporting, and transferring electronic payments through electronic or digital channels, in accordance with the definition by the Federal Institute for Access to Public Information and Data Protection (INAI). 

IFPEs function by maintaining accounts on their platforms for users and, based on client instructions, distributing money or virtual assets corresponding to the balance in the respective wallet. Klu Tech specializes in offering digital financial services to SMEs, including corporate card issuance and service payments such as electricity or phone service. 

"With the approval from the CNBV, Klu Tech joins the league of fintech entities contributing to the economic landscape. This achievement aligns with the evolving financial needs of businesses, particularly SMEs, and adds to the growing momentum of digital finance in Mexico," says Carlos Salazar Estrada, Head, Ministry of Economy and Labor (SEyT), during a press conference. 

Salazar also highlights the pivotal role of technological innovation in shaping the future of businesses and responding to the rising demand. Additionally, the company inaugurated its corporate headquarters in Chiapas.

Are you ready to set yourself up for success in 2024? Join us at Mexico Business Summit 2023, the must-attend B2B conference for Mexico’s business leaders!

Taking place on Nov. 28-30, 2023, at Expo Santa Fe in Mexico City, this high-level multi-industry conference offers unmatched opportunities to get inside perspectives on key industry trends, access actionable business intelligence, generate pre-qualified leads and identify new opportunities in a unique cross-industry networking environment.

Mexico Business News offers you an exclusive MX$2,000 ticket discount by using this code: MBS2023MBN2000. 

Don't miss this opportunity and get your tickets here: https://mexicobusiness.events/MBS/2023