# Fiat Flow Solutions

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/fiat-flow-solutions

- Industry: Financial Services
- Headquarters: Buenos Aires, Argentina
- Website: www.buenbit.com
- Total disclosed funding: $11M
- Latest round: Series A (Jul 10, 2021)
- Investors on record: 4

## About

Fiat Flow Solutions Ltd. is a financial technology company specializing in cryptocurrency investment and digital wallet solutions, empowering users in managing their financial assets seamlessly through a user-friendly platform.Fiat Flow Solutions Ltd. was founded in 2018 in Buenos Aires, Argentina, providing innovative financial solutions for cryptocurrency transactions. The company is led by CEO Federico Ogue, who has a background in establishing tech-driven financial services. It secured USD 11 million in Series A funding in July 2021, led by Libertus Capital, with participation from other investors including Galaxy Digital and FJ Labs. The firm has completed one significant deal, enhancing its operational capacity in the cryptocurrency sector.Buenbit is a comprehensive financial platform that offers investment, savings, and credit solutions through its user-friendly application. The core product is a Mastercard®-backed digital wallet which allows users to buy, sell, and manage a variety of cryptocurrencies, including popular options like Bitcoin (BTC), Ethereum (ETH), and stablecoins such as USDC. Users can easily deposit and withdraw local currency (Fiat) via bank transfers, participate in cryptocurrency transactions, and invest their holdings for daily returns. The platform caters to individual investors, providing access to investment opportunities that were previously limited to a select few. Buenbit has over 800,000 users across Latin America, and its solutions are available on both iOS and Android devices.Buenbit operates on a revenue model that is primarily centered around transaction fees associated with cryptocurrency trading and the handling of fiat deposits and withdrawals. There are no hidden fees or maintenance costs for users, and revenue is generated through network fees charged during cryptocurrency withdrawals. The platform also allows users to utilize credit lines secured by their crypto assets, enhancing its transactional capabilities. With no costs associated with account openings or maintenance, Buenbit focuses on user engagement and retention, supported by strategic partnerships with financial institutions ensuring a reliable and secure experience.Following the USD 11 million Series A funding raised in July 2021, Fiat Flow Solutions Ltd. plans to initiate operations in Peru, Colombia, and Brazil or Mexico. The funding will facilitate the hiring of personnel for its product, technology, and design teams, strengthening its market presence and expanding its service offerings in these new regions.

## Funding rounds

- Series A, Jul 10, 2021, $11M — FJ Labs, Galaxy Asset Management, Libertus Capital, Amaiya Management LP

## Investors

- FJ Labs (https://capitalatlas.ai/funds/fj-labs) — Series A
- Galaxy Asset Management (https://capitalatlas.ai/funds/galaxy-asset-management) — Series A
- Libertus Capital (https://capitalatlas.ai/funds/libertus-capital) — Series A
- Amaiya Management LP — Series A