EXATEC acquires a financial technology startup

EXATEC acquires a financial technology startup

christopher lopez, Graduated Accountant Tec de Monterrey and Professor on campus Queretaro, tells about his way as an entrepreneur in ContactHelpa financial consulting company with software for SMEs and accountants.

ContaAyuda is a company in the FinTech sector (Financial Technology) trying to support them Entrepreneurs who give them Tools to manage their taxes, accounting and financial analysis, allowing them to build a comprehensive management of their money.

The software is based on artificial intelligence which in turn treated Building small business accounting through alliancesin cooperation with various auditing companies in order to offer their services through them.

“We rely on technology to improve accounting practices while providing our clients with a better service that makes it easier for them to take control of their business,” shares Christopher for CONNECT.

How did the idea come about?

After graduating in 2015, López made the decision to work for a company fintech developed online banking from the USA. There he worked as a cost calculator and learned to program Python and the use of R and Tableau, software and languages with which he was unfamiliar, which he discovered were being used in the financial business.

It was like this started venturing into the area and developed using these tools to automatically calculate costs so that the company shortens its runtimes Costs from 6 months to 2 weeks.

“It was fantastic, but I had a desire to start my own business. The entrepreneurial ray was instilled in me at Tec since I graduated from high school,” Lopez remembers.

On another occasion he made an app that used machine learning to calculate ROI However, the fact that he had an employee in the company was later used to downsize, which made him uncomfortable.

“I decided that I wanted to apply this knowledge, which I loved so much, to something else, to help people,” comments EXATEC.

How did the idea come about?

Christopher proudly tells that his studies at Tec were possible thanks to his parents’ family business.

“Then I asked myself, what if I could use my knowledge, accounting skills and family history to help people with businesses have an office like my father’s?” Christopher shares.

So he returned to Mexico in 2018 with the idea Development of a company around electronic invoicing and open banking. First the Tec motivated him to get involved and then his family history which led him to share his knowledge for the growth of micro SMEs.

ContaAyuda integrates and offers technology tools along with the accounting service, unlike traditional offices or software companies that offer only one of the two.

“I didn’t allow this because I don’t think technology will replace the accountant. We’re in the middle of these two, it’s a balance”assures the teacher.

“I want to reach half a million users in ContaAyuda. This would mean half a million companies would be affected.”

Christopher believes that the latter can guarantee market success compared to their competitors. They currently have nearly 200 users gained through referrals from other customers and have been growing as a result of sales.

A FinTech with great potential

A Startup like ContaAyuda strives for accelerated growth; It’s mostly about technology because those are the ones they tend to get more leverage with.

This was challenging for López as he was challenging due to his belief in seeking that Balance between technology and servicewas postponed by some business accelerators with the wish that the company only uses software.

Nevertheless, Village Capital, a mutual fund for entrepreneurs, included them in its program of startups with FinTech potential.

“I was very moved and as a good Tec student I gave everything to get 100”, Think of EXATEC.

He tells that in the first ratings of the fund ContactHelp It was at the bottom, so he worked with a desire to get to the middle of the list until, to his surprise, he discovered that he had won $30,000 for his startup.

“It was a great confidence boost to go ahead with the project. This has resulted in very nice things, we have gained very good consultants,” Christopher points this out.