Carlos Correa, CEO and cofounder of MejorCDT, details how his platform has surpassed 500,000 users in four years by facilitating investments in certificates of deposit (CDs) from home. The company operates nationwide with 72 employees, mostly women, and highlights the importance of CDs amid electoral uncertainty.
MejorCDT, a Colombian fintech, allows users to compare banks and select the most profitable options for investing in certificates of deposit (CDs) from home. It also offers CD transfer services, where clients can receive money for these instruments. Correa stresses that the platform is popular because it shows the expected return immediately, with effective annual rates between 8% and 11%.
The company has 72 employees in Colombia, with more women than men, which generates pride in the organization. In the market, CD balances for natural persons reach 134 trillion pesos, while savings accounts total 113 trillion. The average investment value per user is 57 million pesos, though it can start from 50,000 pesos.
In a year of electoral uncertainty, David Susa, cofounder of MejorCDT, states: “Instruments like the CD gain vital relevance by allowing to shield capital while maintaining flexibility.” The platform has launched the 'Yo me llamo CDT' campaign to promote a savings culture.
Additionally, MejorCDT introduced the Financial Regret Index, based on a survey of over 1,000 people aged 30 to 70 conducted with the firm Views. 79% of Colombians regret how they spent their bonuses or extra income, such as inheritances. The recommendation is to prioritize saving and investing in CDs before spending, defining amounts and terms to maximize returns.
Currently, up to 2.4 million users in Colombia have some type of CD, reflecting the rise of fixed income.
