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Fernando Sucre

Founder and CEO

Fernando Sucre is the Founder and CEO of R5, a Colombian fintech startup focused on providing financial solutions, particularly in the areas of insurance and lending for vehicle owners.

Here are some key points about Fernando Sucre:

Background

Originally from Venezuela, Fernando Sucre built a career in finance in the UK before moving to Colombia. He has extensive experience in the financial sector, which he leveraged to create innovative financial products.135

Entrepreneurial Journey

In 2011, Sucre founded ComparaMejor.com, an insurance comparison website in Colombia, which later became one of the country's leading insurance comparison sites. ComparaOnline, the leading insurance comparison website in Latin America, acquired ComparaMejor in 2018.15

R5

Sucre co-founded R5 in 2018 with the mission of improving the financial health of Colombians by offering low-cost, fast, and fair insurance and loan products for vehicles. R5 uses artificial intelligence and algorithms to provide better pricing and to cross-sell insurance and loan products, thereby reducing costs for customers. The company has achieved significant growth, reaching over 1 million customers in Colombia and generating annual profits within its first three years of operation.123

Achievements and Funding

Under Sucre's leadership, R5 raised $7 million in a funding round led by Global Founders Capital, with participation from other investors such as Magma Partners, Carao Ventures, Accion Venture Lab, and Endeavor Catalyst. This funding has helped R5 expand its team and increase its loan disbursements.234

Recognition

Sucre is recognized as an Endeavor High-impact Entrepreneur at Endeavor Colombia, reflecting his significant impact on the entrepreneurial ecosystem in the region.5

Overall, Fernando Sucre is a seasoned entrepreneur and financial expert who has made significant contributions to the fintech and insurtech sectors in Latin America.

Highlights

Oct 1 · yourstory.com
Fernando Sucre | YourStory
Oct 13 · latamlist.com
Fernando Sucre, R5: Helping Colombians improve their financial ...
Fernando Sucre, R5: Helping Colombians improve their financial ...
May 18 · latamlist.com
Colombian fintech R5 raises $7M to continue building the financial ...
May 18 · accion.org
R5, a Colombian fintech startup offering financial solutions around ...
Jan 25 · yourstory.com
R5 Company Profile Funding & Investors | YourStory
R5 LTD overview - Find and update company information - GOV.UK

Related Questions

What inspired Fernando Sucre to move from the UK to Colombia?
How did Fernando Sucre's experience in the UK influence his approach to fintech in Colombia?
What were the biggest challenges Fernando Sucre faced when starting ComparaMejor.com?
How does R5's pricing algorithm differ from traditional insurance pricing methods?
What role did artificial intelligence play in R5's rapid growth?
Fernando Sucre
Fernando Sucre, photo 1
Fernando Sucre, photo 2
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Location

Bogota, D.C., Capital District, Colombia