Botin
The business, the turning points, and the decisions behind them.
01 / WHAT IT BUILT
What the company did
Botin was a US-headquartered fintech building an all-in-one investment platform for Latin America, with the slogan 'Investing in stocks and crypto, made simple.' Its mobile app (botin.app) let consumers invest in US stocks and cryptocurrencies, aiming to increase returns for underserved Latin American investors. The company raised disclosed rounds totaling at least $730,000: a $100,000 accelerator round in February 2021, a $500,000 accelerator round in March 2022, a seed round in May 2022, and a $130,000 Y Combinator seed in August 2022, with backing from investors including Pareto Holdings and TRUE Capital Management. PitchBook lists the company as Out of Business as of February 5, 2024.
02 / Botin FAILURE REASONS
Failure reasons
No detailed public post-mortem was ever published. What is documented is that Botin remained thinly capitalized - disclosed funding totaled roughly $730,000 - and small, with four employees, while competing in the crowded retail brokerage and crypto-trading space. PitchBook records the company as Out of Business effective February 5, 2024, but no founder statement or press account explaining the closure has been found, so no specific failure cause can be stated.
03 / EVENT HISTORY
Events in the structured record
- Founded; first round
Botin was founded as a fintech giving Latin Americans simple access to US stock exchanges, closing a $100,000 accelerator round in February 2021.
- Seed rounds and Y Combinator
The company closed a $500,000 accelerator round in March 2022, a seed round in May 2022, and a $130,000 Y Combinator seed in August 2022, building its botin.app investing platform.
- Out of Business
PitchBook records Botin as Out of Business effective February 5, 2024, with no public announcement of the closure found.
04 / CONTEMPORARY REBUILD ASSESSMENT
Difficulty of rebuilding this project today
Material for this section is being gathered and checked. It will appear here once ready.
Overall assessment: Not completed
05 / CAUSAL CHAIN
How the factors connect
- 01
Botin's disclosed funding totaled at least $730,000 across a February 2021 $100,000 round, a March 2022 $500,000 round, a May 2022 seed round, and an August 2022 Y Combinator $130,000 seed.
- 02
PitchBook lists the company as Out of Business effective February 5, 2024; no acquisition or asset sale was publicly documented.
- 03
No reliable realized loss figure with clear subject, period and basis has been disclosed; funding raised is not a loss.