Renafipse
Renafipse is a Cuenca-based, member-owned Ecuadorian cooperative association that provides financial software (MinkaSoft), payment processing, compliance tools, training, and consulting to COACs and other Popular and Solidarity Economy entities across Ecuador.
- Company typePrivate
- Founded2007
- HeadquartersCuenca, Ecuador
- Headcount1–10
- GTM typeB2B
- OfferingSoftware
What Renafipse does
Renafipse (legal name: Red Nacional de Finanzas Populares y Solidarias del Ecuador) is a private, member-owned cooperative association founded in December 2007 in Cuenca, Ecuador, and legally constituted in 2009. It serves as a national integration and representation body for entities in Ecuador's Popular and Solidarity Economy sector — primarily cooperativas de ahorro y crédito (COACs), community banks (cajas and bancos comunales), savings boxes, and financial networks. The organization's mandate is to integrate, represent, and strengthen these institutions through a combination of technology, education, and advisory services.
Its technology stack centers on MinkaSoft, a web-based financial software system built on Java with an Oracle database that delivers accounting, financial reporting, user-role security, acquisitions, and system-configuration modules. Around this core sit specialized add-on modules: Minka Pagos (transactional software for electricity-bill collection connected to the national collection system, returning ~11% commission to COACs), Minka Coactivas / PJC System (judicial-providences management with daily UAFE database feeds and SEPS audit support), and COMUNIKA (mass-messaging application for collections, investments, and marketing). Complementary non-software services include Renafipse Digital (subscription-based social-media management at $120-$180 + IVA per month), Renafipse Fortalecimiento (governance, legal, and compliance consulting), and Aprendo / Escuela (training courses and webinars priced $40-$100 + IVA per seat, covering financial analysis, credit analysis, strategic planning, and compliance-officer certification).
The business model is a mix of one-time software licenses, recurring subscriptions (PJC System, Renafipse Digital), transaction fees (Minka Pagos), training fees, and professional-services consulting. Go-to-market is sales-led and event-driven — direct engagement from the Cuenca headquarters, WhatsApp-based communication, and in-person workshops and webinars that double as customer acquisition channels. Revenue is not publicly disclosed, the operating team is small (approximately 9 employees), and there is no disclosed external funding; the company is sustained through member affiliation and its diversified product-and-services portfolio.
Renafipse firmographics
Firmographics- Name
- Renafipse
- Legal name
- Red Nacional de Finanzas Populares y Solidarias del Ecuador
- Website
- https://renafipse.ec
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Renafipse is a Cuenca-based, member-owned Ecuadorian cooperative association that provides financial software (MinkaSoft), payment processing, compliance tools, training, and consulting to COACs and other Popular and Solidarity Economy entities across Ecuador.
- Ownership category
- akta.pro rank
Renafipse industry classification
Industry- Product category
- Cooperative Banking Software
- NAICS
- Software Publishers (513210), Custom Computer Programming Services (541511)
- SIC
- Services-Prepackaged Software (7372), Finance Services (6199)
- akta.pro primary industry
- Financial Inclusion & Consumer Empowerment (Banking Access, Credit Building) (BPAGALAJ)
Keywords
Where Renafipse is headquartered
LocationHeadquarters
- HQ city
- Cuenca
- HQ country
- Ecuador
- HQ region
- Latin America
Offices1 record
Markets served
Renafipse business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure
Revenue model
- Software Licensing (MinkaSoft): Sale and licensing of MinkaSoft financial software system to cooperatives and financial institutions. The system provides administrative, financial and accounting management capabilities.
- Payment Processing (Minka Pagos): Transaction fees from electricity bill collection services. COACs earn approximately 11% commission per transaction when processing payments through the Minka Pagos system.
- Digital Marketing Services (Renafipse Digital): Monthly subscription plans for digital marketing services including social media management, content creation, and digital presence for cooperatives. Plans range from $120 to $180 monthly plus IVA.
- Training and Education Courses: Revenue from educational courses and workshops for cooperative sector professionals including Analysis Financial for Directors ($40-60), Excel Financiero, Credit Analysis, Strategic Planning, and Compliance Officer Training ($75-100).
- Consulting and Strengthening Services: Advisory services for cooperative strengthening including governance, organizational processes, legal consulting, preventive consultancy, and audit services.
- Providences Judiciales System (PJC System): Software system for judicial providences management and coactive proceedings, providing daily database updates and compliance support for SEPS audits.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Plan COOP Estandar - Basic digital marketing package for cooperatives |
| Subscription | Monthly | Plan COOP Plus - Enhanced digital marketing package |
| Subscription | Monthly | Formación de Oficiales de Cumplimiento (Compliance Officer Training) |
| Subscription | Monthly | Taller Estrategias de Marketing para COACS |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Renafipse product offering
Product offeringCore offering
RENAFIPSE develops and licenses proprietary financial software systems (MinkaSoft, Minka Pagos, Minka Coactivas, PJC System, COMUNIKA) tailored for cooperatives of savings and credit (COACs), community banks, and savings boxes in Ecuador's Popular and Solidarity Economy sector. Alongside its software, the organization sells subscription-based digital marketing services (Renafipse Digital), professional consulting and strengthening services (Renafipse Fortalecimiento), and recurring training and certification courses (Cursos Ofertados, Educación Financiera, Simulador Financiero) to the same cooperative client base.
Product overview
Renafipse operates as a platform-plus-modules architecture serving Ecuador's Popular and Solidarity Economy sector. The core product is MinkaSoft, a comprehensive financial software system for cooperatives. This core is supplemented by specialized modules including Minka Pagos (utility payment processing), Minka Coactivas (judicial provisions management), and COMUNIKA/PJC System (messaging and coactive tracking). Complementary services encompass Renafipse Digital (digital marketing), Renafipse Fortalecimiento (consulting and strengthening), and financial education programs with training courses and simulators. The portfolio targets cooperatives, savings boxes, and community banks throughout Ecuador.
Differentiator
Problem solved
Functional benefit
Brands
- Minka Soft: Financial software system for COACs and Savings Boxes
- Minka Pagos
- Minka Coactivas
- COMUNIKA
- Renafipse Digital
- Renafipse Fortalecimiento
- Aprendo
- Escuela
- Webinar
Products and services
- MinkaSoft
Quantifiable outcome
- 11% commission earned by COACs on each electricity payment transaction through Minka Pagos
- +1 more outcomes
Companies that use Renafipse
Customer profileNamed customers16 records
Segments3 records
Ideal customer profiles3 records
Renafipse technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Renafipse partnerships and signals
Strategic signalPartnerships
Eleven partnerships are on record, tiered core and minor.
- Banco CodesarrollocoreStrategic partner and aval (guarantor) for training programs including the Formación de Oficiales de Cumplimiento course. The bank provides institutional backing for educational initiatives targeting the cooperative sector.
- SEPS (Superintendencia de Economía Popular y Solidaria)corePrimary regulatory body overseeing the Popular and Solidarity Economy sector in Ecuador. RENAFIPSE's products are designed to comply with SEPS regulations and provide support for regulatory compliance.
- COSEDE (Corporación de Seguro de Depósitos)coreDeposit insurance corporation for the financial sector. RENAFIPSE's Renafipse Digital Plan COOP includes COSEDE-DIR2021-002 compliance support for cooperatives.
- UAFE (Unidad de Análisis Financiero y Económico)coreFinancial analysis unit providing updated coactive database for the PJC System. RENAFIPSE maintains daily database updates from UAFE for judicial providences tracking.
- Sparkassenstiftung (Sparkassen Foundation for International Cooperation)coreInternational partner providing personal finance simulators for Ecuador. The Sparkassenstiftung provides digital financial education tools that RENAFIPSE offers through its website.
- Corporación Civil REFLAcoreFinancial network and strategic ally of RENAFIPSE representing solidarity financial entities in Ecuador.
- REFSE (Red de Entidades Financieras Solidarias y Equitativas)coreFinancial network representing solidarity and equitable financial entities, affiliated with RENAFIPSE.
- REFIDER (Red de Instituciones Financieras de Desarrollo Rural)minorNetwork of rural development financial institutions, listed as a strategic ally of RENAFIPSE.
- Educadores del AzuayminorEducational institution partner providing training and certification support for financial education programs.
- COOPMEGOminorCooperative partner representing member organizations, listed among RENAFIPSE's strategic allies.
- CoacmesminorCooperative ofmezquital savings and credit institution, listed as a strategic ally.
Scale indicators3 records
Recent moves7 records
Expansion highlights5 records
Renafipse competitors and assessment
Company assessmentEmerging players
- Mambu: Mambu is a cloud-native core banking platform increasingly used by credit unions, microfinance institutions, and fintechs globally. Represents the emerging SaaS-native competitive threat to legacy Java/Oracle-based cooperative banking stacks like RENAFIPSE's MinkaSoft.
Broad incumbents
- Finastra: Finastra is a large incumbent providing core banking, lending, and treasury software to banks and credit unions globally. Comparable as a broad incumbent competing for the same cooperative financial institution software budgets as MinkaSoft.
- Temenos: Temenos is a global incumbent in core banking software serving retail, cooperative, and microfinance banks at scale. A broad incumbent comparable to RENAFIPSE in functional category (banking software for regulated depository institutions) though not specialized in Ecuadorian EPS segment.
Regional players
- INTEPS (Instituto de Economía Popular y Solidaria): INTEPS is an Ecuadorian training and education institution serving the Popular and Solidarity Economy sector, similar to RENAFIPSE's Aprendo and Escuela training lines. Comparable as a sector-focused training and capacity building organization overlapping RENAFIPSE's education revenue streams.
- SIBUC (Sistemas para Cooperativas): SIBUC provides cooperative management and accounting software primarily across Latin America. Comparable regional peer with verticalized cooperative software similar to RENAFIPSE's MinkaSoft, though operating in different geographies within the region.
Others
- World Council of Credit Unions (WOCCU): WOCCU is the global trade association and integrated support organization for credit unions, with technical assistance, training, and capacity building programs. Comparable to RENAFIPSE's representation, training, and strengthening mandate for the cooperative sector, though at global rather than national scope.
- Sparkassenstiftung für internationale Kooperation: Sparkassen Foundation for International Cooperation is an international development partner that provides financial education tools and cooperative banking advisory globally. Already a RENAFIPSE partner, but functionally comparable as a peer organization enabling financial inclusion and cooperative capacity building.
Direct peers
- CONAFIPS (Confederación Nacional de Cooperativas de Ahorro y Crédito): CONAFIPS is the Ecuadorian national confederation of savings and credit cooperatives, providing representation and integration services to COACs. Closest direct peer in mandate and geography to RENAFIPSE's trade association role within Ecuador's Popular and Solidarity Economy sector.
- Bantotal (Grupo Bantotal): Bantotal is a Latin American banking software provider with strong presence in cooperatives, microfinance, and mid-sized banks. Comparable to RENAFIPSE on serving Spanish-speaking cooperative and microfinance segments with packaged banking software.
- COBIS Development Company: COBIS provides core banking and lending software specifically designed for credit unions and cooperatives in Latin America and Africa. Most directly comparable to RENAFIPSE's MinkaSoft in targeting cooperative financial institutions with verticalized banking software.
Market position
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Renafipse social profiles
Digital presenceRenafipse financial estimates
Financial estimateRevenue estimate
Valuation estimate
Renafipse leadership team
Management profileNumber of profiles
Profiles1 record
Renafipse funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Renafipse 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 Renafipse
What does Renafipse do?
RENAFIPSE develops and licenses proprietary financial software systems (MinkaSoft, Minka Pagos, Minka Coactivas, PJC System, COMUNIKA) tailored for cooperatives of savings and credit (COACs), community banks, and savings boxes in Ecuador's Popular and Solidarity Economy sector. Alongside its software, the organization sells subscription-based digital marketing services (Renafipse Digital), professional consulting and strengthening services (Renafipse Fortalecimiento), and recurring training and certification courses (Cursos Ofertados, Educación Financiera, Simulador Financiero) to the same cooperative client base.
Is Renafipse a public or private company?
Renafipse is a private company. It is classified as management employee owned and is currently operating.
When was Renafipse founded?
Renafipse was founded in 2007. It employs 1 to 10 people.
Where is Renafipse based?
Renafipse is headquartered in Cuenca, Ecuador, in the Latin America region.
How does Renafipse make money?
Six revenue lines are on record. Software Licensing (MinkaSoft) is the primary driver. The others are payment Processing (Minka Pagos), digital Marketing Services (Renafipse Digital), training and Education Courses, consulting and Strengthening Services and providences Judiciales System (PJC System).
Who are Renafipse's main competitors?
Mambu is listed as an emerging player. Broad incumbents are Finastra and Temenos. Regional players are INTEPS (Instituto de Economía Popular y Solidaria) and SIBUC (Sistemas para Cooperativas). Others are World Council of Credit Unions (WOCCU) and Sparkassenstiftung für internationale Kooperation. Direct peers are CONAFIPS (Confederación Nacional de Cooperativas de Ahorro y Crédito), Bantotal (Grupo Bantotal) and COBIS Development Company.
Does Renafipse have an API?
No public API is recorded for Renafipse.
What industry is Renafipse in?
Renafipse's product category is Cooperative Banking Software. Its primary akta.pro industry code is BPAGALAJ, Financial Inclusion & Consumer Empowerment (Banking Access, Credit Building). Its NAICS code is 513210 and its SIC code is 7372.