Colombian Fintech Finds Capacity to Scale With NetSuite OneWorld

After identifying a lack of access to financial resources for entrepreneurs and other business leaders in Colombia, the founders of Sempli created a financing alternative to traditional banking. The startup offers simple and accessible financial products to Colombian microbusinesses and small businesses. Entrepreneurs can request a Sempli line of credit completely online — without paperwork or leaving the office — in minutes, with experts who can accompany them through the process and provide support digitally.


COMPANY

Sempli

LOCATION

Medellin, Colombia

Industry

Financial Services

Other Solution Considered

SAP

Implementation Partner

Cloud Consulting Services(opens in a new tab)

LOCATION

Colombia

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“As our product portfolio grew, we needed a system that would support our business goals while maintaining a lean operation. NetSuite was the right choice.” Catalina Salazar, CFO, Sempli

To Support Entrepreneurs, Sempli Finds a System to Support Its Own Business

An alternative to traditional business banking
In six years, Sempli has gained significant market share, helping more than 1,000 Colombian companies obtain the financing they need to grow sustainably. Sempli has raised $60 million USD via various equity and debt rounds.
Creating the capacity to scale
As Sempli’s client base grew, it identified an opportunity to expand into the corporate credit card category. However, its ERP system wouldn’t be able to integrate with the platform Sempli would use to manage that side of the business. Sempli also needed an ERP with stronger accounting and financial management capabilities — and more robust automation — so that it could keep scaling with a relatively small team.
A system that simplifies
Sempli found its ideal solution in NetSuite OneWorld, which has automated critical processes. For example, issuing digital invoices to customers now takes two hours per week instead of two days. Leadership easily accesses real-time data on business performance and customised reports in NetSuite, tracking metrics like new customer count and share of wallet to inform their decisions.
Limitless potential
Sempli plans to continue adding to its product portfolio and pursuing customers from a variety of industries. It will also continue collaborating with corporations both globally and regionally, having recently established partnerships with Visa and Sura, one of Latin America’s biggest insurance companies. As each initiative launches, Sempli will use NetSuite to support it, scaling the business in a single, capable system.

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