Pago ASAP arrives in Colombia to boost cross-border payments with Venezuela

Pago ASAP begins operations in Colombia with financial infrastructure specialized in cross-border payments, at a time when trade relations between Colombia and Venezuela are entering a new phase of recovery.

After several years of contraction, trade between the two countries reached US$1.170 million in 2025, according to the Colombo-Venezuelan Chamber, based on figures from DANE. The trade association also estimates that more than 1.100 Colombian companies have already resumed exports to Venezuela.

The trade recovery brings new financial challenges

The reopening of the border has helped restore momentum to bilateral trade. However, financial infrastructure has not advanced at the same pace.

Companies that import, export, or maintain operations in Venezuela still face payment processes that can take several business days, require multiple intermediaries, and generate higher operating costs. These challenges are especially significant for recurring transactions between suppliers, customers, and business partners.

In this context, Pago ASAP aims to facilitate the movement of money between the two markets and support the growth of trade relations between Colombia and Venezuela.

“The economic relationship between Colombia and Venezuela is entering a new phase. It is no longer just about reopening the border or restoring trade; the next step is to facilitate the movement of capital between the two markets so companies can operate more efficiently and with greater confidence. That is where financial infrastructure takes on a strategic role,” says Fredy Genatios, CEO of Pago ASAP.

Infrastructure for payments between Colombia and Venezuela

The company is entering the Colombian market with a financial infrastructure platform that enables banks, fintechs, digital wallets, remittance companies, and businesses to send and receive money to and from Venezuela.

Access is available through an API integration or a direct operating platform.

The solution aims to reduce settlement times, improve transaction traceability, and facilitate regulatory compliance. It also provides access to more competitive rates, with the goal of creating efficiencies and reducing costs in cross-border operations.

Sectors resuming operations with Venezuela

Pago ASAP’s expansion reflects growing interest among companies in strengthening their trade relations with Venezuela.

Sectors that have begun to resume operations in that market include finance, services for the oil industry, and exports of goods such as food and textiles.

Companies are also looking for new suppliers, distributors, and business partners across the border, driving demand for financial solutions focused specifically on this bilateral corridor.

“Venezuela is once again a strategic market for many Colombian companies. Our purpose is to provide the infrastructure that ensures this growth in trade is also supported by faster, more transparent, and more predictable financial operations. When a company can pay and receive funds efficiently, it is better positioned to invest, grow, and create new business opportunities,” Genatios adds.

Expansion backed by international investment

Pago ASAP’s arrival in Colombia follows a recent investment round of US$1,15 million, which closed at a valuation of US$5 million.

The deal included participation from Brazilian fund Sassholic, which led the investment with approximately US$800.000, and U.S. fund RallyCap, based in California and led by Hayden Simmons, which contributed US$350.000.

The funds will be used to strengthen the company’s expansion in Latin America and develop financial infrastructure to meet the growing demand for cross-border business payments to and from Venezuela.

“This investment allows us to accelerate our expansion at a time when trade between Colombia and Venezuela is gaining momentum again. Our goal is to strengthen the financial infrastructure supporting that growth, making it easier for companies, banks, and fintechs to move funds between the two countries with greater speed, transparency, competitiveness, and security,” Genatios says.

More than US$158 million processed to and from Venezuela

Pago ASAP has specialized infrastructure for financial operations between companies, banks, and fintechs that maintain or seek to establish business relationships with Venezuela.

The company works with more than 1.200 merchants in Latin America, including Chile, Colombia, Peru, and Mexico, as well as the United States.

During the first half of the current year, it has processed more than US$30 million in transactions to Venezuela and more than US$128 million from the country.

With these volumes, the company projects that it will reach US$500 million in transactions by the end of the current year, establishing itself as one of the leading enablers of cross-border payments along this corridor.