NUBCEO is a fintech startup established in Uruguay in 2021. Gonzalo Manuel Lissarrague, CEO, and Cristina Martínez, COO, came to Madrid in the context of Madrid City Council’s investment attraction programme.

NUBCEO offers an innovative tool targeted at small and medium-sized businesses and large retail chains alike. This solution makes it easy to manage all e-payments (credit cards, debit cards, payment gateways, digital wallets, delivery platforms, and others) in a single app in an intuitive manner.

Today, NUBCEO, operating in Uruguay and Argentina, and soon to land in Colombia, has more than 3000 clients. The startup’s internationalisation plan includes Spain as one of its near-future targets.

• What did you know about Spain – and about Madrid in particular – before this trip?

We knew that Spain, and Madrid in particular, offers a business-friendly economy, where fintech is a powerful sector. We have done successful business in this country before, so we would like NUBCEO to find its place in the local market, helping Spanish companies manage their e-payments.

• What do you think of digitalisation and its impact on the Spanish economy, especially on the financial sector?

We can see that Spain has made great progress in business digitalisation, as well as in the development of public policy to address this issue. The fintech sector, for instance, comprises some one thousand firms – a considerable number when compared to other EU countries.

• What is your assessment of this trip, considering the meetings you have had and the contacts you have made? Is there strong support to the promotion and development of the entrepreneurial ecosystem from Madrid City Council and from public or private institutions? How important do you think it is to have a local office like Madrid Investment Attraction to support companies and investors on the prospects of settling in town?

The trip has given us invaluable input about the payment ecosystem and its key players in Spain. We are amazed at the support we got from Madrid Investment Attraction, the way they backed us and put together a high-value meeting agenda for us. We have not come across anything like it in other regions – an initiative to encourage startups to come to Madrid and operate from the city.

• What do you think about Madrid’s present in terms of business development and engagement of foreign companies?

Based on what we saw, Madrid is a very dynamic city today, offering a bunch of interesting opportunities associated with the digital economy. It has an active entrepreneurial sector: new projects are taking shape every day, ready to be launched into the market to offer high-value solutions. We would like NUBCEO to be among these projects in the near future.

• Have you found new technology initiatives or projects in Madrid that might look interesting to entrepreneurs?

Definitely! In our sector – fintech – new initiatives are popping up all the time, and the prospects for collaboration are exciting.

• Do you think the initiatives and trends you have spotted in the fintech sector can benefit both companies and end-users in the short run?

Definitely, yes. The benefits of these initiatives will reach shops, SMEs and big companies: process automation and improvement, lower operating costs, access to working capital, improved customer relationship management… Fintech solutions can have a positive impact on all this. In fact, the impact can be felt already.

• What else do you think Madrid has to offer tech-based companies and talent in the financial sector?

Madrid looks very attractive for entrepreneurs, especially to those coming from Latin America like us: similar culture, same language, high living standards… If we add support policies like the one implemented by Madrid City Council through Madrid Investment Attraction, all these factors really make a difference. In addition, Spain offers a favourable business environment, top-level talent and professionals, and good prospects of internationalisation in the EU.

• Does Madrid offer more advantages than other European cities as a destination for investment? Do you think it can be a good gateway to the EU for firms based in the Americas?

Of course! To many Latin American entrepreneurs, Madrid is the first destination in Europe – an attractive city for expansion beyond the Americas and an ideal place to set foot in Europe.

• What can Latin American firms interested in international expansion find in Madrid that make them choose the city?

Well, as we said before, public policies supporting entrepreneurs are crucial, especially if you are coming from Latin America. To them we can add the culture, the language, the living standards and the talent. All this makes Madrid a very attractive destination for investment.

• Finally, considering Madrid as a place to live and work in, what can you say about the city’s economic, cultural and social life?

Madrid is among the best places to live and work in the world, offering high living standards. It is a cosmopolitan city with a vibrant culture and an amazing cuisine, where public transport works and communications are good. Last but not least, it is a safe city… and sunny too!