Koin expands anti-fraud solution market and aims for expansion in Latin America

Koin, a fintech that aims to connect merchants and end-users at the point of sale through financial solutions, reaffirms its investment in technology and personnel to expand the market reach of its Antifraud product, which currently analyzes over 21 million transactions across different Latin American countries.

Led by CEO Nicolás Obejero, who joined the company in 2021 with the goal of expanding its business, the fintech seeks to accelerate the growth of Koin Antifraud in the region. The product was developed to prevent fraud in e-commerce transactions and maximize sales conversion rates, leveraging an extensive database, machine learning models, and a team of specialists.

In 2024, Koin decided to broaden its geographical service coverage to reach a larger number of clients in Latin America and selected Uruguay as the development hub for its antifraud solutions. The company plans to invest approximately US$ 5 million in enhancements to its antifraud and payment platforms. According to Lucas Iván Gonzalez, Chief Product Officer at Koin, the objective is to enable an increasing number of merchants to access a high-quality antifraud solution with features such as biometrics and 3DS (an e-commerce authentication protocol that enhances transaction security and improves the shopping experience), to prevent losses in online purchases.

The company uses artificial intelligence and machine learning to enhance this solution and offer it throughout Latin America. “This infrastructure is what gives us the robustness to ensure secure transactions for our clients,” explains the executive. “Providing security at the point of purchase is essential for any company operating in e-commerce,” emphasizes Gonzalez. Koin markets its products and services to companies in various countries across the region, such as Uruguay, Brazil, Mexico, Ecuador, Colombia, and Argentina.

In the post-pandemic period, the increase in online shopping volume has heightened risk exposure for merchants, as cybercriminals continuously exploit new opportunities to commit fraud. To provide context, in Brazil alone, a fraud attempt occurs every two seconds. In 2023, Koin prevented R$ 240 million in fraud and 120,000 fraudulent transactions in the country.

Team Expansion in Latin America

Currently, Koin has a team of over 350 people distributed across Brazil, Mexico, Argentina, Colombia, and Uruguay, and has strengthened its commercial team, focusing on sustainable growth in Latin America. 

According to the executive, the evolution of offerings in this segment is essential to simplify transactions and provide an easier shopping experience for our partners“ consumers. ”At the end of the day, investing in prevention is a sound business decision for any company, as it avoids financial losses from operational and even legal costs, and above all, it is an investment that ensures the preservation of the brand's image and reputation," concludes Gonzalez.