Btrust
Btrust is a Chilean fintech operating the first CMF-authorized SAT for invoice treasury management, enabling CFOs to anticipate their own accounts payable payments at buyer-defined rates (~7.9% effective annual yield) with proprietary AI anti-fraud monitoring. Target: enterprise treasury departments in Chile.
- Company typePrivate
- Founded2023
- HeadquartersLas Condes, Chile
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Btrust does
Btrust is a Chilean fintech that operates the first SAT (Sistema Alternativo de Transacción) authorized by Chile's CMF under the Fintec Law. Its core product, GDT (Gestión Dinámica de Tesorería — Dynamic Treasury Management), is a regulated platform that enables enterprise CFO and treasury departments to anticipate payment of their own accounts payable at buyer-defined rates, generating an effective annual return of approximately 7.9%. The platform processes more than $30 million in annual invoice volume and supports a mobilized line of $2,090 MM CLP (roughly USD 220+ million). A secondary market allows positions to be transferred to qualified investors before maturity, providing liquidity without lock-up. The platform does not intermediate, buy, or sell invoices on its own account — purchase conditions are set exclusively by participants, and revenue is generated through service fees on transactions.
Underlying technology includes native SAP ERP integration (no custom development required), full DTE/SII fiscal traceability, and a proprietary AI anti-fraud engine called Merlyn.ai. Merlyn.ai monitors issuer, amount, and counterparty patterns in real time and blocks transactions that deviate from learned baselines before settlement, with a public dashboard showing daily evaluated and blocked operations (312 evaluated, 1 blocked as of disclosure). All transactions are supervised under CMF and UAF (Chile's financial analysis unit) anti-money-laundering procedures.
Btrust is a privately held company headquartered in Las Condes, Chile, with 11–50 employees. It raised $1.5 million in seed funding led by Invexor in May 2024, with participation from three angel investors. Its primary customer segment is enterprise CFO and treasury functions, with SME suppliers participating as the receiving side of the real-time factoring auction. The company does not disclose revenue, valuation, or customer count beyond a single named reference (EBCO), and operates exclusively in the Chilean market. The platform received industry recognition as best fintech of the year at the 1° Fintech Awards 2026.
Btrust firmographics
Firmographics- Name
- Btrust
- Legal name
- Btrust
- Website
- https://btrust.finance
- Company type
- Private
- Founded year
- 2023
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Btrust is a Chilean fintech operating the first CMF-authorized SAT for invoice treasury management, enabling CFOs to anticipate their own accounts payable payments at buyer-defined rates (~7.9% effective annual yield) with proprietary AI anti-fraud monitoring. Target: enterprise treasury departments in Chile.
- Ownership category
- akta.pro rank
Btrust industry classification
Industry- Product category
- Treasury Management and Supply Chain Finance Software
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Sales Financing (52222)
- SIC
- Miscellaneous Business Credit Institution (6159), Finance Services (6199)
- akta.pro primary industry
- Corporate Cash Management & Treasury Services (FSAMAOAA)
- akta.pro secondary industries
- Treasury, Cash Management & Liquidity Tools (Sweeps, Cash Concentration) (FSAGAAAG), Trade Finance & Receivables Tokenization (FSADAEAG)
Keywords
Where Btrust is headquartered
LocationHeadquarters
- HQ city
- Las Condes
- HQ country
- Chile
- HQ region
- Latin America
Offices1 record
Markets served
Btrust business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales, Compliance and Regulatory
Revenue model
- Transaction/Service Fee: Btrust operates as a transaction platform where participants define their own purchase rates. The platform generates revenue through service fees on transactions processed. The company explicitly states it does not intermediate, buy or sell invoices on its own account — conditions are defined exclusively by participants.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Pay-as-you-go | Enterprise Treasury Platform |
Distribution channels2 records
Marketing channels4 records
Btrust product offering
Product offeringCore offering
Btrust provides a SaaS treasury management and supply chain finance platform called GDT (Gestión Dinámica de Tesorería) that enables corporate treasury departments to discount invoices, manage working capital dynamically, and access liquidity through a CMF-authorized SAT (Sistema Alternativo de Transacción). The platform integrates invoice factoring with a secondary market and an AI-driven anti-fraud engine (Merlyn.ai) to serve as a digital infrastructure for B2B payment chains in Chile.
Product overview
Btrust operates as a unified treasury and invoice factoring platform under Chile's first authorized SAT (Sistema Alternativo de Transacción). The core product is GDT (Gestión Dinámica de Tesorería), a treasury management tool for CFOs to anticipate payment of their own accounts payable at buyer-defined rates. This is complemented by Merlyn.ai for real-time anti-fraud monitoring, a Portal for platform access and dashboards, and a secondary market for liquidity. The platform connects both sides of the invoice under a CMF-regulated framework, processing over $30 million annually in invoice factoring.
Differentiator
Problem solved
Functional benefit
Brands
- GDT (Gestión Dinámica de Tesorería): Treasury Dynamic Management - dynamic treasury management solution for CFOs that enables early payment of accounts payable at buyer-defined rates, offering ~7.9% effective annual returns
- Merlyn.ai
- SAT (Sistema Alternativo de Transacción)
Products and services
- GDT (Gestión Dinámica de Tesorería) SaaS platform for corporate treasury departments that enables dynamic treasury management, invoice discounting, and supply chain finance automation for CFOs and finance teams.
- Merlyn.ai
Companies that use Btrust
Customer profileNamed customers1 record
Segments2 records
Ideal customer profiles1 record
Btrust technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
AI capability2 records
Feature4 records
Btrust partnerships and signals
Strategic signalScale indicators5 records
Recent moves5 records
Expansion highlights4 records
Btrust competitors and assessment
Company assessmentDirect peers
- Clara: Mexico-based corporate spend management and B2B credit platform serving CFOs and treasury teams across Latin America with corporate cards, bill pay, and financing. Most directly comparable to Btrust in targeting Latin American enterprise treasury personas with working-capital solutions.
- Tribal Credit: B2B payments and credit platform built for emerging-market businesses, offering corporate cards and working-capital lines. Comparable in serving Latin American SMEs and corporates with treasury/payments infrastructure and AI-driven underwriting.
- Mendel: LatAm-focused embedded B2B credit and supplier payments infrastructure, enabling platforms and enterprises to offer financing on invoices and receivables. Directly comparable to Btrust's invoice-factoring/SAT model and LatAm footprint.
- Resolve: B2B supply-chain finance platform that automates invoice factoring and supplier payment for mid-market buyers in the US. Closely comparable business model to Btrust's GDT platform in enabling buyers to manage payables dynamically and suppliers to receive early payment.
- Balance: B2B payments and financing marketplace connecting suppliers and buyers for early invoice payment. Directly comparable in supply-chain finance marketplace model where suppliers sell receivables and buyers/investors provide funding.
Emerging players
- Parafin: Embedded working-capital platform enabling B2B SaaS marketplaces to offer capital to their merchants, with underwriting on transaction data. Comparable in applying alternative transaction data to power working-capital/treasury financing decisions.
- Tesorio: AR/cash-flow forecasting and treasury management platform for mid-market finance teams. Comparable in targeting CFO/treasury personas with tools to optimize cash and receivables, though focused on forecasting rather than transactional financing.
- Stenn: Global trade-finance and receivables-financing platform serving SMEs and mid-market exporters. Comparable in financing invoices/receivables to optimize working capital, with cross-border rather than Chile-domestic focus.
Broad incumbents
- HighRadius: Large enterprise platform for treasury, AR, and AP automation including invoice factoring and supplier financing modules. Broadly comparable in treasury/supply-chain-finance functionality, but operates at global enterprise scale and serves much larger customers than Btrust.
Regional players
- Klar: Mexican consumer-and-SME neobank with growing B2B/corporate offerings including credit and payments for businesses. Regional peer in the LatAm fintech ecosystem serving a similar treasury/cash-management pain point but primarily in Mexico.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Btrust social profiles
Digital presenceBtrust compliance and trust
Trust signalCompliance5 records
Btrust financial estimates
Financial estimateRevenue estimate
Valuation estimate
Btrust leadership team
Management profileNumber of profiles
Profiles1 record
Btrust funding detail
Funding detailFunding overview
Funding rounds2 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Btrust M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Btrust
What does Btrust do?
Btrust provides a SaaS treasury management and supply chain finance platform called GDT (Gestión Dinámica de Tesorería) that enables corporate treasury departments to discount invoices, manage working capital dynamically, and access liquidity through a CMF-authorized SAT (Sistema Alternativo de Transacción). The platform integrates invoice factoring with a secondary market and an AI-driven anti-fraud engine (Merlyn.ai) to serve as a digital infrastructure for B2B payment chains in Chile.
Is Btrust a public or private company?
Btrust is a private company. It is classified as venture growth investor backed and is currently operating.
When was Btrust founded?
Btrust was founded in 2023. It employs 1 to 10 people.
Where is Btrust based?
Btrust is headquartered in Las Condes, Chile, in the Latin America region.
How does Btrust make money?
One revenue line is on record: transaction/Service Fee.
Who are Btrust's main competitors?
Direct peers on record are Clara, Tribal Credit, Mendel, Resolve and Balance. Emerging players are Parafin, Tesorio and Stenn. HighRadius is listed as a broad incumbent. Klar is listed as a regional player.
Does Btrust have an API?
No public API is recorded for Btrust.
What industry is Btrust in?
Btrust's product category is Treasury Management and Supply Chain Finance Software. Its primary akta.pro industry code is FSAMAOAA, Corporate Cash Management & Treasury Services, with a secondary code of FSAGAAAG, Treasury, Cash Management & Liquidity Tools (Sweeps, Cash Concentration). Its NAICS code is 522320 and its SIC code is 6159.