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According to the National Administrative Department of Statistics (Dane), in Colombia, There are more than 5 million microbusinesses.
For its part, According to Nequi studies, more than 2.1 million people manage their business money through this digital financial platform. This fact highlights the country’s progress towards a more financially inclusive entrepreneurship and non-formal economy ecosystem.
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“Nequi was born on the cell phone, but it became big on street corners, in food carts, and in businesses of all types and sizes. We are digital, but we are also street. Thinking about strengthening this network of businesses and businesses, we are strengthening our portfolio of solutions for the street economy.”explained Andrés Vásquez, CEO of Nequi.
In addition to giving visibility and relevance to businesses, Vásquez specified that the company’s commitment is to enable the increase in sales, enabling different payment methods such as the new Nequi Business QR.
According to Nequi figures, 37% of the users who manage their business money through the platform are stores, restaurants, hairdressersamong others.
In addition, 25% are independent entrepreneurs and 23% have digital businesses. Furthermore, the majority of this segment are young: 35% of users are between 26 and 35 years old and 27% between 18 and 25.
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New possibilities to increase sales
In its objective of strengthening the portfolio of solutions for the small business economy, Nequi presented the Nequi Business QR, with which users will be able to receive instant payments free of charge from the more than 19 million Nequi usersas well as the financial entities in the Redeban ecosystem, which currently number more than 12 entities.
From now on, users will be able to get their Nequi Business QR quickly and easily from the App, and the best thing: it’s free.
In that sense, Nequi is committed to getting to know the small business segment by the activity they have in the App and by the use of products such as QR businesses that allow them to receive digital payments and use cash less; This way we will have more information to evaluate the possibility of granting them credit.
“Of the 19 million total Nequi users, e15% are people who manage their business money through Nequi. So far this year, through the credit modalities that we have in Nequi, We have disbursed more than 168 thousand consumer loans, of which 34% have been for entrepreneurs and represent 40% of the total amount disbursed”Vásquez explained.
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Furthermore, according to Nequi figures, 80% of consumer loans disbursed to small businesses correspond to the Propulsor loan (free investment with amounts up to $10 million)which means that these people prefer loans of higher amounts, rather than loans for emergencies.
Currently, 13 million people actively use it every month to receive, handle, send and administer your money, mainly from the city of Bogotá (29.1%) and the regions of Antioquia (10.9%) and Valle del Cauca (8.5%)which is where the largest number of Colombian ‘Nequis’, that is, users, are concentrated.
They generated the first quarter of 2024, more than 113 million Nequi to Nequi shipments and more than 25 million Nequi movements to other financial entities.
The presence of the financial digital platform in the 32 departments of the country and 93% of the municipalitiesand its ease of use and access, have promoted the financial inclusion of millions of Colombians.
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