Nequi

What Nequi does

Nequi is a mobile-first digital financial platform and neobank operating in Colombia as a wholly-owned subsidiary of Grupo Bancolombia, one of the country's largest banking conglomerates. Founded in 2016 and headquartered in Medellín with operations centered in Bogotá, Nequi serves over 26 million users through a single mobile application that consolidates peer-to-peer payments, QR merchant payments, savings, credit, insurance, international remittances, USDC trading, and equity investing. The platform targets unbanked and underbanked Colombian consumers as well as small and medium merchants, offering fee-free accounts with no minimum balance requirements and operating without physical branches, supported by a network of correspondents and ATMs for cash-in and cash-out.

The core technology stack comprises a mobile wallet with QR payment infrastructure, integration with Colombia's Transfiya and Bre-B instant payment networks, Visa debit card issuance (virtual and physical), bulk disbursement APIs, and international remittance integrations with Viamericas, PayPal, and Payoneer. For merchants, Nequi provides the Nequi Negocios application with QR acceptance, payment links (Botón Nequi), recurring subscription billing (Suscripciones), bulk disbursements (Dispersiones), and open APIs documented at docs.conecta.nequi.com.co. Recent additions include USDC stablecoin buy/sell functionality, equity investing via the Trii partnership, in-app advertising (Nequi Ads), and registration as a participant in Colombia's Bre-B instant payment system. A cross-border integration with EBANX extends acceptance to global merchants, including Chinese retail giants operating in Colombia.

Nequi generates revenue primarily through merchant payment processing fees on QR and card transactions accepted via Nequi Negocios, interest income on personal credits up to 10 million COP, commissions on distributed insurance products (notably SOAT), and transaction-based revenue from remittances, PayPal/Payoneer integrations, and foreign-currency services. The consumer side follows a freemium model with no management fees, monetizing through payment volumes and financial-product cross-sells rather than account fees. Distribution is app-centric, supplemented by an open API and gateway integration layer that enables third-party merchants and platforms to embed Nequi payment and disbursement capabilities.

Name

Nequi

Legal name

Nequi

Website

https://nequi.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Nequi is a Colombian mobile-first digital wallet and neobank, subsidiary of Grupo Bancolombia, serving over 26 million users with payments, transfers, savings, credit, remittances, insurance, USDC, and equity investing through a fee-free app.

Ownership category

akta.pro rank

Product category

Digital Banking

NAICS

Commercial Banking (52211), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021), Finance Services (6199)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

Cross-border/Remittance Neobanks (FSABAFAH), Cross-Border & FX Payments Platforms (BPAMAFAK), Multi-Currency Accounts, Wallets & FX Management (Consumer/SME) (FSAGAKAF), Customer Experience & Engagement (CRM, Support, Rewards, Loyalty) (FSAGAAAM)

Keywords

• Digital wallet
• Mobile payments
• Consumer lending
• Remittance services
• Merchant payment processing

Headquarters

HQ city

Medellín

HQ country

Colombia

HQ region

Latin America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Others

Revenue model

1. Merchant Payment Processing: Nequi charges businesses a fee for accepting card payments (debit and credit, domestic and international) and QR payments through the Nequi Business platform. Fees apply to transaction processing for merchants using the app, payment links, and card terminals.
2. Credit Products: Nequi offers personal credit up to 10 million COP, generating revenue through interest charged on outstanding balances. The platform performs credit assessments to approve or decline loan applications.
3. Remittance and Foreign Currency Services: Revenue generated from international money transfer services including Viamericas remittances, PayPal withdrawals, Payoneer transfers, and giros (money orders). Additional revenue from digital dollars (USDC) buy/sell services.
4. Insurance Distribution: Nequi acts as a distribution channel for insurance products including SOAT (mandatory vehicle insurance) and other coverage, earning commissions on policies sold through the platform.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

Nequi is a mobile-first digital financial platform offering a free digital wallet (no monthly management fees) for Colombian consumers covering P2P and QR payments, a Visa debit card, real-time interbank transfers via Transfiya, savings and payroll accounts, personal credit up to 10 million COP, international remittances, SOAT and other insurance, USDC stablecoin trading, and stock investments via trii. For merchants, Nequi provides a dedicated Nequi Negocios App, QR acceptance, an online payment button (Botón Nequi), recurring subscription billing, bulk disbursements from Bancolombia accounts, in-app advertising, and open APIs/gateway integration documented at docs.conecta.nequi.com.co. The platform is a wholly-owned subsidiary of Grupo Bancolombia, regulated by the Superintendencia Financiera de Colombia, and serves more than 26 million users.

Product overview

Nequi is a mobile-first digital financial platform and neobank operating in Colombia as a subsidiary of Bancolombia, serving over 26 million users. The core product is the Nequi mobile app, which provides a comprehensive suite of financial services organized into personal (personas) and business (negocios) offerings. For individuals, the platform centers on the Nequi App with features for money transfers (via Transfiya national network), a Tarjeta Débito Nequi Visa (virtual and physical debit card), QR payments, credit (Créditos up to 10M COP), international remittances (PayPal, Payoneer, Viamericas), Dólares Digitales (USDC cryptocurrency), insurance (SOAT, accident), savings accounts (Cuenta de Ahorros, Depósito de Bajo Monto), salary payroll (Nómina), and stock investing via the trii partnership. For businesses, Nequi offers a dedicated Nequi Negocios App, QR code payments, an online payment button (Botón Nequi) serving 25M+ users, recurring subscription billing, bulk disbursements (Dispersiones), a virtual store marketplace (Tienda Virtual) with cashback, in-app advertising (Nequi Ads), and an API integration layer (gateway and direct API access documented at docs.conecta.nequi.com.co). The platform connects to Colombia's Transfiya instant payment network, the Visa payment network, and multiple international remittance providers.

Differentiator

Problem solved

Functional benefit

Brands

• Nequi Negocios: Business app for merchants to receive payments via QR, debit and credit cards, and payment links
• Tarjeta Nequi Visa
• Tienda Virtual Nequi
• trii

Products and services

• Nequi App (consumer digital wallet) Mobile-first digital wallet for Colombian consumers enabling peer-to-peer transfers, QR payments, bill payments, Visa debit card management, savings, credit, insurance, remittance receipt, USDC trading, and stock investing via trii, with no monthly management fees.
• Tarjeta Débito Nequi Visa Visa debit card (virtual and physical) with no monthly management fee, accepted for domestic and international online and in-store purchases, including contactless transactions.
• Nequi Créditos Personal credit product offering loans of up to 10 million COP to Nequi users, with automated in-app credit decisioning and approval delivered within minutes; available to individuals and business owners.
• Cuenta de Ahorros Nequi Free savings account integrated in the Nequi app with no monthly management fees and no minimum balance requirements, allowing users to save and move money without limits.
• Nómina Nequi Salary/payroll account within Nequi that lets users receive their paycheck directly in the app, with promotional incentives for first-time salary deposits.
• Seguros Nequi (SOAT y más) Insurance products distributed through the Nequi app, including mandatory SOAT vehicle liability insurance (up to five policies per user) and accident insurance.
• Remesas y Moneda Extranjera International remittance and foreign currency service letting Nequi users receive funds from abroad directly into their Nequi account from PayPal, Payoneer, Viamericas, and giros providers, including Giros a un Link.
• Dólares Digitales (USDC) Cryptocurrency feature enabling Nequi users to buy and sell USDC, a US dollar-backed stablecoin, directly within the Nequi app for digital dollar holdings.
• Inversiones (Trii) Stock investment feature powered by partnership with trii (Acciones y Valores S.A.), enabling Nequi users to invest in equities directly from the Nequi app.
• Nequi Negocios App Dedicated merchant application for businesses to accept QR payments, domestic and international debit and credit cards, and generate payment links for online sales, while separating business finances from personal accounts.
• Botón Nequi Hosted online payment button enabling merchants to accept Nequi payments on e-commerce sites, reaching over 25 million Colombian consumers at checkout.
• Suscripciones Nequi Recurring payment infrastructure that lets merchants set up subscription-based billing and collect recurring payments from customers via Nequi.
• Dispersiones Nequi Bulk disbursement service that enables businesses to send money from a linked Bancolombia account to multiple Nequi users simultaneously, for payroll, vendor payments, or incentive distributions.

Quantifiable outcome

• User base grew from 4.8 million in 2020 to 26 million by 2026, representing 442% growth in six years
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature6 records

Partnerships

Five partnerships are on record, tiered core.

• AccioncoreStrategic or Co-development Partner · 28 January 2026Accion partnered with Bancoagricola and the Mastercard Center for Inclusive Growth to promote financial inclusion in El Salvador by digitizing remittances through the Nequi platform. The initiative targets low-income populations, leveraging remittances—which account for a quarter of El Salvador's GDP—as an entry point to create digital financial identities and enable alternative credit assessment services. The alliance expands an eight-year collaboration between Accion and Mastercard, with plans to replicate the model in other high-remittance markets including Mexico.
• Mastercard Center for Inclusive GrowthcoreStrategic or Co-development Partner · 28 January 2026The Mastercard Center for Inclusive Growth partnered with Accion and Bancoagricola to promote financial inclusion in El Salvador through Nequi digital payment platform. This partnership focuses on digitizing remittances and creating digital financial identities for low-income populations in El Salvador.
• BancoagricolacoreStrategic or Co-development Partner · 28 January 2026Bancoagricola partnered with Accion and Mastercard Center for Inclusive Growth to digitize remittances through Nequi in El Salvador. The initiative targets financial inclusion for low-income populations by leveraging remittances as an entry point to formal financial services.
• ViamericascoreChannel Partner/ Reseller/ Distributor · 13 January 2026Viamericas expanded its partnership with Bancolombia to enable international remittance payments directly into Nequi accounts. This integration allows customers to receive funds instantly and securely through Nequi's mobile platform, combining digital platform speed with Viamericas' international payments network. The partnership strengthens cross-border money transfer capabilities and financial inclusion for Colombians receiving remittances from abroad.
• EBANXcoreTechnology or Integration · 27 February 2025EBANX integrated Nequi, Colombia's leading digital wallet, into its payment platform. This integration enables global merchants, particularly Chinese retail giants, to accept Nequi payments. The partnership has driven a 34% month-over-month increase in transaction volume for merchants using Nequi through EBANX since September. EBANX operates in 29 countries across Latin America, Africa, and Asia, having integrated more than 200 payment methods.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Nubank: Latin America's largest neobank, operating in Brazil, Mexico, and Colombia. Direct competitor to Nequi for Colombian consumer digital banking and credit, with deeper funding and a stronger product suite across credit cards and personal loans.
• Daviplata: Davivienda's digital wallet in Colombia offering P2P transfers, payments, credit, and savings. Operates the same digital-wallet + parent-bank model as Nequi and competes head-to-head for Colombian retail users and SMB merchants.
• Ualá: LatAm neobank operating in Argentina, Mexico, and Colombia with a prepaid card and app-based account. Direct competitor in Colombia for digital-first banking, with a similar targeting of unbanked/underbanked consumers and remittance use cases.
• RappiPay: Colombian digital wallet tied to Rappi's delivery super-app, offering payments, credit, and savings. Directly overlaps Nequi on Colombian consumer payments and merchant QR, with strong distribution via Rappi's existing user base.
• MOVii: Colombian digital wallet and neobank serving unbanked consumers with mobile accounts, P2P transfers, and bill payments. Directly comparable to Nequi on Colombian mass-market digital wallet proposition and channel partnerships.

Broad incumbents

• Mercado Pago: MercadoLibre's digital wallet and payment processor, dominant across LatAm including Colombia. Competes with Nequi for online/offline payments, QR acceptance, and merchant acquiring, with broader e-commerce ecosystem and credit products.
• Bancolombia: Parent company of Nequi and one of Colombia's largest commercial banks. Provides the regulatory license, treasury, and Transfiya rails underpinning Nequi, while itself competing for the same Colombian retail and SMB banking customers via traditional channels.
• PayPal: Global digital wallet and payments network integrated into Nequi for inbound remittances. Comparable as a multi-currency wallet and merchant payment platform, with broader international reach but weaker LatAm consumer presence.

Regional players

• MACH: Chilean digital wallet offering prepaid card, P2P payments, and merchant acquiring. Operates the same mobile-first, freemium wallet model as Nequi but is focused on Chile, providing a regional comparison point rather than direct Colombian competition.
• PicPay: Brazilian digital wallet and payments platform offering P2P, QR payments, credit, and merchant services. Comparable product architecture to Nequi but anchored in Brazil rather than the Andean/Central American markets Nequi serves.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/nequi
• YouTubeyoutube.com/channel/UCK1dLH3nTK-GOlgSVa95XNg/feed
• Facebookfacebook.com/appnequi
• LinkedInlinkedin.com/company/nequi/mycompany
• Instagraminstagram.com/nequi_
• TikToktiktok.com/@appnequi_

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nequi