“…So as a FinTech, you have to be in the financial center of the country, and Toronto, at least, is the place to be for financial services companies.”Matías Maciel, CFO & Co-Founder
Small and medium businesses worldwide get beat with the excessive fees traditional banks charge in foreign currency exchange, making them lose valuable resources that could go into improving other areas of the business.
Enter Rextie, an online currency exchange platform that provides the chance of saving money while exchanging US$ from the convenience of your phone or computer. With billions of US$ exchanged worldwide and thousands of satisfied users, their solution is built in three pillars: digital service, bank-beating rates and speed.
Rextie was born in Perú in 2016 and started operations in 2017. Matías founded the company alongside business partners Claudia Quintanilla (COO) and Mateu Batle (CEO). Since its inception they’ve been able to exchange more than 4 billion USD, more than 45 million USD saved by their users, over 150 thousand registered users and more than 11 thousand companies enrolled in the platform. The logical next step for them was to start their internationalization, and what a better place than Canada.
“We chose Canada for mainly two reasons. The first one has to do with the fact that the Canadian FX market is among the top five in the whole world in terms of volume. The Canadian market is 20 times the market we have in Perú, where we are currently operating.”
Rextie incorporated in Canada in 2021 as Rextie Canada, and it has been building the foundations of its Canadian subsidiary. In 2022 they entered LatAm Startups’ Corporate Program, seeking advice on how they could operate in the Canadian market. Matías values big time the support and guidance this program has given Rextie: “…we heard about the Corporate Program, and which is what we are currently in, and the experience has been fantastic. You know, for a company that is wanting to enter a new market for us LatAm Startups was an easy means to get help…”
It is important to state that through the City of Toronto’s support, LatAm Startups has been able to provide programming that assists not only Rextie, but all of the startups in our portfolio.
Learn more about Rextie
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