A "Glocal" Company...
The idea for SUMA originated in 2015 in Chile, where managing daily operations was very complex: multiple tax regimes, electronic invoicing requirements, financial statements, bank reconciliations, and payroll tax calculations. At the same time, Riverwood Capital was evaluating the consolidation of the financial management software industry in Latin America. Riverwood saw a huge neglected market opportunity: millions of small businesses in the region that could be more successful if they digitized their operations. We came together and SUMA was born, with an understanding of local problems, but with global solutions.
SUMA consolidates the best platforms for financial management, accounting and tax compliance in the cloud. To date, SUMA has acquired the main cloud-based market players in Argentina, Chile and Mexico. With increased Internet connectivity and more access to technology, more than 100,000 small businesses in Latin America are taking advantage of the world-class SaaS solutions provided by SUMA.
SUMA's vision is unique: an integrated cloud-based platform that captures business transactions in real time to automatically generate a single, unified ledger online, offering greater visibility, control, and compliance to small businesses throughout Latin America. With SUMA platforms, millions of entrepreneurs can be more productive and grow faster.
The purpose of SUMA is to promote the development of Latin America through the success of its small businesses. We will not rest until every small business in Latin America is more successful with our solutions.
- Matt Cole, CEO SUMA
Who we are
SUMA SaaS is transforming the way small and medium-sized businesses in Spanish Speaking Latin America manage their finances. Through our cloud-based platforms, entrepreneurs and accountants can manage financial performance, maintain their accounting books, issue electronic invoices, calculate payroll obligations, and ensure they are compliant with local tax regulations. SUMA´s platforms drive productivity and collaboration in the cloud, providing the +26 million SMBs in Latin America with accessible, yet powerful SaaS solutions.
SUMA generates +$24 million USD of ARR from +21,000 customers, and supports +100,000 SMBs, in Mexico via “Bind-ERP”, in Chile via “Nubox” and in Argentina via “Colppy”. SUMA’s global vision and local solutions combine to accelerate growth via winning global strategies, while assuring that clients can successfully navigate hyper-local regulatory environments. SUMA is backed by Riverwood Capital, Latin America´s leading partner for scaling technology businesses.