B&E represents Consortium in $1.6m investment in Regcheq

Barros & Errázuriz has advised Compañía de Seguros de Vida Consorcio Nacional de Seguros on its $1,600,000 USD investment in Regcheq

 Barros & Errázuriz has represented Compañía de Seguros de Vida Consorcio Nacional de Seguros S.A., as leading investor, in the corporate venture capital transaction consisting in the investment in a capital round for a total of $1,600,000 US dollars in the technology company Regcheq SpA, which through a software digitizes, automates and centralizes the management of the entire compliance flow of companies against money laundering.

This transaction, closed on 4 January, involved the participation of Villarino and Ilharreborde as Regcheq’s legal advisors.

The advice included the performance of legal due diligence and the preparation, negotiation and execution of the investment documents (the principal of which consisted of a mutual convertible into Regcheq shares).

The recent investment is part of the Corporate Venture Capital programme launched by Consorcio in 2019, through which it seeks to invest in companies with high growth potential in the fintech group in the region.

Regcheq has been operating in Chile for a year, and already has a portfolio of more than 60 clients from different industries, to whom they charge between 10 UF and 30 UF per month. Now, with the resources obtained, Regcheq will start a second stage: regional expansion. They will start with Brazil and Mexico, for which they will open offices in Sao Paulo and Mexico City in March. The goal, by the end of 2022, is to reach 300 clients between the three countries. In addition to internationalisation, the firm wants to develop new software models and technologies.

B&E’s team was led by partner Sergio Eguiguren (pictured top left), assisted by associates Juan Sebastián Alonso (pictured top right), Catalina Barros (pictured bottom left) and Cristián Eyzaguirre (pictured bottom right).