Financial Tech Startup Selected to Represent Peru in Silicon Valley

Preauth, a Peruvian fintech company, has been selected to take part in an acceleration program led by VISA.

Preauth, a fintech company from Peru, has been chosen to take part in the Visa Fintech Accelerator, an acceleration program for startups set to take place in Silicon Valley. This initiative is led by Visa, the world's foremost financial technology corporation.

Preauth offers tech solutions enabling lending institutions to safeguard borrower repayments through collateral, instilling greater confidence in extending loans to individuals frequently overlooked by the financial system.

Its innovative proposal caught the attention of Plug and Play, the investor renowned for backing highly successful ventures like Google, Dropbox, and PayPal, prompting them to select it for participation in the acceleration lab in Silicon Valley.

Preauth stands among the startups featured in PROMPERU's portfolio of investment projects. It actively participates in various international endeavors aimed at attracting foreign direct investment, to showcase the innovative spirit thriving within our nation.

Being chosen for the Visa Fintech Accelerator underscores the significant progress the Peruvian high-tech sector has made in recent years, establishing itself as one of the most promising players in the local market.

With an estimated growth of 130 % in investment amounts in the last five years (2019-2023) and a prominent presence in the Global Innovation Index 2023 ranking, Peru is on its way to becoming a leading technology hub in the region.

Due to the emergence of startups like Preauth, our nation has solidified its standing as the sixth most sought-after location for foreign direct investment projects in South America.

Photograph: Shutterstock

Regional recognition 
Preauth has also been chosen as the winner of the Financial Inclusion Lab organized by the Development Bank of Latin America and the Caribbean (CAF) for having increased credit placement to rejected people in Latin America by 15 %.

Photograph: Shutterstock

Thumbnail credits: Luis Chau, co-founder and CEO of Preauth