Introduction to Keo World and its Focus on Small and Medium Enterprises (SMEs)
Keo World, an international payments firm, has identified small and medium-sized enterprises (SMEs) in its home country as the segment with the highest growth potential. The company believes this sector presents a significant opportunity for international payments market expansion in the coming years.
Mexico as Keo World’s Primary Market
Mexico was the first market where Keo World began operations through its platform, Workeo. Currently, the company collaborates with around 1,000 businesses, each averaging 200 employees and annual sales close to $50 million. Despite the uncertainty caused by tariff policies initiated by U.S. President Donald Trump, Keo World remains optimistic about growth in this sector.
Paolo Fidanza’s Perspective on Mexico’s Growth Potential
Paolo Fidanza, Keo World’s CEO, expressed confidence in Mexico’s growth potential. He stated, “The current situation will be resolved, and I believe Mexico will experience strong growth. The U.S. economy will continue to thrive, and Mexico will remain its primary ally. Furthermore, it is expected that many Chinese exports to the U.S. will slow down, creating an opportunity for Mexico to fill that market space.”
Keo World’s Growth Strategy and Strategic Partnerships
Keo World aims to transact an annual volume of 100,000 million pesos (approximately $5 billion) in international payments over the next three years. This growth will be driven, in large part, by strategic alliances with institutions such as American Express through its platform Amex Business Link.
Fidanza on Keo World’s Growth Prospects
“Our growth will be significantly more robust. We are expanding our channels, and market conditions are favorable. Our partnerships with banks enable us to overcome many of our previous limitations,” Fidanza explained.
Key Partnerships and Expansion
In December of the previous year, Keo World signed a collaboration agreement with BTG Pactual Bank SA, Brazil’s largest investment bank, to expand its operations in the Brazilian market. In Mexico, Keo World maintains a partnership with a Popular Financial Society to provide financing for small and medium-sized enterprises.
Keo World’s Rapid Growth in International Payments
In its first year of operation, 2021, Keo World transacted $12 million annually in international payments. After securing a credit line from Hayfin Capital Management LLP in 2022, the figure rose to approximately $80 million. In 2023, transaction volume reached $325 million, and in 2024, it hit $500 million. This year, Keo World aims to achieve $700 million in transactions.
Fidanza on the Untapped Potential of SMEs
“Large and medium-sized companies have not seen any innovation or new financial products or payment systems to assist them. Our growth reflects that businesses are expanding and require better tools,” Fidanza noted.
Key Questions and Answers
- What is Keo World’s focus? Keo World focuses on small and medium-sized enterprises (SMEs) for international payments growth.
- Why is Mexico important to Keo World? Mexico is Keo World’s primary market, with around 1,000 collaborating businesses and annual sales close to $50 million.
- What is Keo World’s growth strategy? Keo World aims to transact an annual volume of 100,000 million pesos (approximately $5 billion) in international payments over the next three years, driven by strategic partnerships.
- What recent partnerships has Keo World established? Keo World signed a collaboration agreement with BTG Pactual Bank SA for Brazilian market expansion and maintains a partnership with a Popular Financial Society in Mexico for SME financing.
- How has Keo World grown in international payments? Keo World transacted $12 million annually in 2021, rising to approximately $80 million in 2022, $325 million in 2023, and $500 million in 2024. The goal for this year is $700 million.
- What does Paolo Fidanza say about SMEs’ potential? According to Fidanza, large and medium-sized companies have not seen any innovation or new financial products or payment systems. Keo World’s growth reflects the expanding needs of businesses requiring better tools.
