Bolsa de Productos

What Bolsa de Productos does

Bolsa de Productos de Chile S.A. is a regulated electronic exchange authorized under Chile's Law 19.220, operating the country's organized secondary market for invoices (facturas), invoice titles (TF), mutuos, repos, and physical products. Founded in 2005 and headquartered in Santiago at Huérfanos 770, the platform connects small and medium enterprises (PYMEs) seeking early payment on receivables with institutional investors—including 24 investment funds from multiple AGFs managing approximately US$959 million in invoice positions—via 12 licensed stock brokers (corredores de bolsa) of which BCI Corredores, Finmas, and Santander Corredores are the largest by volume. The platform has 100+ registered corporate payers across mining, salmon/aquaculture, food processing, retail, and beverage, with CODELCO, Walmart Chile, Agrosuper, and Minera Escondida among the most active. As of mid-2026 the exchange reported daily invoice/TF turnover of approximately CLP 1.6 billion (annualized ~CLP 251 billion), daily mutuos volume of CLP 1.5 billion, and additional repo activity, with ~13,000 PYMEs financed to date.

The platform is a multi-product trading system with four transaction instrument families (Facturas y TF, Mutuos y TM, Repos, and Productos Físicos) supporting CLP, USD, and UF denominations. Supporting infrastructure includes a Registry of Payers organized by risk classes A through H, a Quarterly Payer Ranking developed jointly with Asech that tracks sector-level payment terms (mining 40 days, salmoniculture 54 days, state enterprises 31 days), and a market-indicators dashboard publishing daily average rates and corredor presence metrics. The technology is described only at the level of a regulated exchange with real-time transaction reporting; no proprietary algorithmic, AI, or machine-learning differentiation is disclosed in the input data.

Revenue is generated from transaction fees on invoices, mutuos, and repos traded on the platform; specific fee schedules are not publicly disclosed. The go-to-market motion combines sales-led direct engagement with large corporate payers to register them in the system and a channel-led approach via the licensed corredor network and investment fund community. The business is concentrated in Chile with no disclosed international expansion. Operating since 2005 with 11–50 employees, the company functions as a niche but institutionally entrenched infrastructure layer in the Chilean short-term financing market, materially supported by 2021 regulatory changes that opened the door to pension fund and severance fund participation.

Name

Bolsa de Productos

Legal name

Bolsa de Productos de Chile S.A.

Website

https://bolsadeproductos.cl

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Bolsa de Productos is Chile's regulated electronic exchange authorized under Law 19.220, trading invoices, mutuos, and repos to connect PYME suppliers seeking liquidity with institutional investors via 12 licensed stock brokers.

Ownership category

akta.pro rank

Product category

Alternative Financing Exchange

NAICS

Sales Financing (52222), Securities and Commodity Contracts Intermediation and Brokerage (5231)

SIC

Short-Term Business Credit Institutions (6153), Finance Services (6199)

akta.pro primary industry

Invoice Trading / Receivables Marketplace (P2P) (FSAKAHAH)

akta.pro secondary industries

Invoice Financing, Factoring & Receivables Management (FSAGAJAB), Invoicing, Billing & Accounts Receivable Automation (FSAGAJAC), Trade & Invoice Payments (Cross-Border B2B) (FSAMAIAL)

Keywords

• Invoice trading exchange
• Factoring marketplace
• Short-term debt instruments
• Alternative financing platform
• Regulated securities exchange

Headquarters

HQ city

Santiago

HQ country

Chile

HQ region

Latin America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Transaction fees on invoice trading: The exchange generates revenue through transaction fees charged on invoices and TF (transferable deposits) traded on the platform. The platform facilitates the trading of commercial invoices, financial invoices, and guaranteed invoices denominated in CLP, USD, and UF.
2. Mutuos and TM trading fees: Revenue from facilitating loan agreements (mutuos) and transferable instruments (TM) transactions in multiple currencies including CLP, USD, and UF.
3. Repo transactions: Fees from repurchase agreements (repos) on various instruments including commodity titles.

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

Bolsa de Productos operates a regulated electronic exchange where companies trade invoices (Facturas y TF), loan agreements (Mutuos y TM), repurchase agreements (Repos), and physical products. The platform connects small and medium enterprises seeking immediate liquidity through invoice monetization with institutional investors, investment funds, and factoring companies seeking short-term returns, with 12 licensed stock brokers (corredores de bolsa) facilitating transactions in CLP, USD, and UF.

Product overview

Bolsa de Productos operates as a Chilean alternative financing platform and securities exchange authorized under Law 19.220. The platform functions as a multi-product trading system comprising four core transaction instruments: Facturas y TF (invoices and invoice-backed titles), Repos (repurchase agreements), Mutuos y TM (loans and loan titles), and Productos Físicos (physical goods). The platform connects payers (companies that owe money on invoices) with investors (including institutional investors like pension funds) seeking short-term financing opportunities. Additionally, the platform provides a Registry of Pagadores with risk classification (Classes A through H) and publishes a Quarterly Payer Ranking that evaluates companies on payment terms, invoice confirmation practices, and payment behavior toward PYME suppliers.

Differentiator

Problem solved

Functional benefit

Products and services

• Facturas y TF (Invoices and Invoice-Backed Titles) Primary transacted instruments on the platform, allowing companies (sellers/PYMEs) to monetize accounts receivable and enabling investors to purchase these instruments for short-term returns. Includes commercial invoices, financial invoices, and guaranteed invoices denominated in CLP, USD, and UF.
• Mutuos y TM (Loan Agreements and Loan Titles) Loan agreements (Mutuos) and associated titles (TM) for short-term financing in CLP, USD, and UF currencies with monthly or annual interest rates, supporting short-term investment and borrowing transactions.
• Repos (Repurchase Agreements) Repurchase agreements (Repos) for securities-backed short-term financing on the exchange, supporting short-term funding for market participants and repo-secured investment positions.
• Productos Físicos (Physical Products) Trading of physical products on the exchange, an original product line carried over from the company's launch under Ley 19.220; the source indicates no transactions in this category in the last 12 months.

Quantifiable outcome

• PYMEs can receive financing at rates around 0.50-0.55% monthly, significantly lower than traditional credit
• +2 more outcomes

Named customers10 records

Segments5 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core.

• Asociación Chilena de Administradores de Fondos de Inversión (ACAFI)coreStrategic or Co-development Partner · 1 January 2023ACAFI represents investment funds that are major investors in invoices on the platform. Their analysis shows 24 funds managing US$ 959 million in invoice investments, financing approximately 13,000 PYMEs.
• Viña Concha y TorocoreStrategic or Co-development Partner · 29 September 2022Viña Concha y Toro signed an agreement with Bolsa de Productos in September 2022 allowing the company's suppliers to advance collection of their invoices and access financing in shorter timeframes through the platform's invoice trading operations.
• Asociación de Emprendedores de Chile (Asech)coreStrategic or Co-development Partner · 1 January 2021The Ranking of Payer Performance is jointly developed by Bolsa de Productos and Asech. This quarterly report tracks payment terms to PYMEs across different sectors, providing transparency on payment practices.
• Comisión para el Mercado Financiero (CMF)coreOthers · 1 January 2021The CMF approved regulatory changes in April 2021 to the operations manual for invoices, flexibilizing conditions for trading without executive merit. The CMF authorized Bolsa de Productos as a formal secondary market, enabling pension funds to invest.
• Banco Central de ChilecoreOthers · 1 January 2021Authorized Bolsa de Productos as a formal secondary market, enabling access to pension funds and funds of severance for invoice investments. This expanded the pool of institutional investors available on the platform.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• PrimeRevenue: PrimeRevenue runs one of the largest supply chain finance platforms globally, enabling buyers to extend payment terms and suppliers to accelerate receivables. Directly comparable to Bolsa de Productos in facilitating institutional investment in invoices and receivables, with similar revenue model.
• Taulia: Taulia operates a global supply chain finance and invoice-financing marketplace connecting buyers and suppliers for early payment of invoices. Highly comparable to Bolsa de Productos in product (invoice/AR trading) and two-sided buyer/investor-supplier model, though at global scale rather than single-country.
• C2FO: C2FO operates a working-capital marketplace that matches suppliers seeking early invoice payment with funders. Directly comparable to Bolsa de Productos as an invoice/AR trading platform connecting corporates with institutional capital, with similar network-effect dynamics.
• TradeRiver Finance: TradeRiver Finance operates an invoice trading and discounting platform, enabling businesses to sell invoices to investors. Comparable as a marketplace for invoice paper with a regulated structure, though focused on UK/European markets rather than Latin America.

Regional players

• Tanner Servicios Financieros: Tanner is a major Chilean financial services company with a significant factoring business. Comparable as a direct competitor in Chilean invoice/factoring services, but operates bilaterally rather than as a marketplace exchange.
• Sixt Factoring: Sixt Factoring is a Chilean factoring company providing working capital and receivables financing. Comparable as a competitor in Chilean invoice financing, though operating as a principal rather than a marketplace.

Emerging players

• BlueVine: BlueVine provides invoice factoring and working capital lines to small businesses. Comparable in product (invoice financing) and target customer (SMEs), though it operates as a principal funder rather than a multi-lender marketplace.
• Fundbox: Fundbox offers invoice and receivables-based financing to small businesses via an automated underwriting platform. Comparable in product focus on invoice-based liquidity for SMBs, though operates in the US and lends on-balance-sheet.
• Konfío: Konfío is a Mexican fintech providing working capital and SME lending. Comparable as a Latin American SME financing platform targeting similar PYME pain points, though it lends on-balance-sheet rather than operating a marketplace exchange.

Broad incumbents

• BancoEstado: Chile's state-owned commercial bank provides factoring and supplier financing products to large corporates and their PYMEs. Comparable as a participant in Chilean invoice financing and an alternative channel that PYMEs could use instead of the Bolsa de Productos exchange.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/bproductos
• YouTubeyoutube.com/channel/UC81lNnHPciRfsngcyqfGL6g
• Facebookfacebook.com/bolsadeproductos
• LinkedInlinkedin.com/company/bolsa-de-productos

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 Bolsa de Productos