FntekNews Deal of the Day – Iatai Raises $5M

We often feature deals that are occurring in the US, Europe or Asia, but we don’t often find Latin American deals, but today’s is that.  Iatai Enterprises has raised $5M.  According to FinSMEs, “Led by Sergio Arana, CEO, Iatai focuses on FinTech & InsurTech and the discovery of new dimensions in these industries by exploring innovative prospects, even signing international strategic alliances to deliver new business models.  Motion Life, its creative lab, looks for new trends, systematization of knowledge, analysis of social behavior, and consumer habits.”

What makes this a little surprising, though, is that the name of the enterprise is “Allegra” and the domain is http://allegra.global/.  Surely there had to be some, er, “discussions” with Chattem, makers of the allergy drug Allegra about the use of that name (even the same spelling!), but we’re not copyright attorneys, so perhaps the fact that they are not US-based provided them some sort of protection. 

Anyway, the website is entirely in Spanish, but there’s a few terms in English –  “Smart, Simple & Sexy” – I guess everybody knows what that means no matter what language you speak.  According to the Crunchbase listing, “Iatai is also developing a mobile platform that connects users to all sorts of services that meet their daily needs, from home, cars, pets, restaurants, rides, etc.”

Total Equity Funding
$5M in 1 Round from 1 Investor

Most Recent Funding
$5M Series A on September 2, 2016

Read Full Listing at Crunchbase