Fernando Sucre

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.