In a world where electronic transactions are commonplace, the Chilean startup Linkify has emerged as an innovative solution to streamline the process of validating payments by bank transfers. Founded by Cristián Casamayor and Álvaro Flaño, this company has revolutionized the way companies manage their online financial transactions.
The Entrepreneurial Path
The history of Linkify is linked to the entrepreneurial career of Cristián Casamayor, an industrial civil engineer who has been involved in various projects in the field of technology in Chile. More than 25 years ago, he founded an information backup company that prospered until the end of the last century. Then, in 1998, he launched PlanetaFutbol.cl, a website that had a significant impact at the time. His next venture, Hosting.cl, a web hosting company, is still active to this day.
It was at Hosting.cl where the idea behind Linkify began to take shape. Casamayor and his team realized that traditional payment methods involved high commissions and delays of several business days. They decided to promote direct transfers as a faster and cheaper alternative for their clients. However, as transfers increased in number and complexity, the need arose for a more efficient solution.
The Birth of Linkify
The solution came in the form of Álvaro Flaño, a computer engineer who joined the Hosting.cl team. Flaño developed a system that used a bot to extract information from transfers and organize it automatically. Customers only needed to provide their RUT, and the system took care of the rest. Over time, this system evolved and became the core of Linkify.
In 2019, Flaño left Hosting.cl and joined Casamayor to create an independent company focused on this new service. This is how Linkify was born, with a simple business model: charge a flat fee of $200 + VAT for each transfer validation, regardless of the amount involved. The company became the preferred solution for numerous companies, including giants such as Salazar Israel, due to its significant savings in commissions and its immediacy in validating transactions.
Growth and Collaboration with Haulmer
In a short time, Linkify has reached a customer base of around 1,500 companies, including entities such as Customs of Chile, Casino Monticello and numerous SMEs. It performs more than 250,000 validations per month, totaling nearly $300 billion in validations so far in 2023. The company aims to double its revenue compared to the previous year, which represents impressive growth.
One of the key milestones for Linkify occurred when a third partner, software development company Haulmer, came on board. This collaboration has driven Linkify's expansion into Open Banking services and bank account consolidation, allowing companies to manage all their current accounts from a single platform.
Despite its success in Chile, Linkify is not satisfied. The company sees opportunities in other Latin American countries, where banking transactions are not yet as advanced as in Chile. Its vision is to become the main solution for the management of electronic transactions in the region, further consolidating its position in the market.
Linkify, has transformed the way companies manage electronic transfers. With a simple and effective business model, the company has experienced impressive growth and has ambitious plans for expansion in Latin America. This story is an example of how innovation can solve common problems and improve efficiency in the world of online business.