The Reconciliation Problem
Financial reconciliation — the process of matching transactions across different systems to verify that records are consistent and complete — is one of the most expensive, error-prone, and systematically underinvested activities in financial operations. Every fintech, bank, payment processor, and financial services company reconciles daily. Most of them do it in Microsoft Excel, with operations teams spending dozens of hours per week manually comparing records from payment gateways, banking APIs, internal ledgers, and card networks. When transactions don't match — and they frequently don't — the investigation process is manual, slow, and dependent on knowing where to look across multiple disconnected systems.
Simetrik was founded in 2019 on the observation that this problem was solvable with the right software architecture, and that the market had somehow failed to produce an accessible, modern solution for the fintech and digital banking companies that were generating transaction volumes their operational processes were not equipped to handle.
No-Code Reconciliation Engine
Simetrik's technical differentiator is its no-code rule-building interface. Rather than requiring engineering resources to configure and maintain reconciliation logic, the platform allows finance and operations professionals to define matching rules through a visual interface — specifying which fields from which data sources should align, what tolerance thresholds apply, and what actions to trigger when mismatches are detected. This approach dramatically reduces the time-to-value for new customers: a fintech can go from contract signing to live reconciliation in days rather than months, without placing demands on a typically overloaded engineering team.
The underlying engine processes transaction data from connected sources — payment processors, banking APIs, ERP systems, card networks — and applies the configured rules continuously, surfacing exceptions in real time rather than after end-of-day batch runs. For a digital payments company processing thousands of transactions per day, the difference between real-time and batch-based exception detection is measured in millions of pesos of float risk and operational hours spent on investigation.
Customer Base and LATAM Growth
Simetrik's initial customer base was concentrated in Colombian fintechs and digital payment companies — the segment most acutely exposed to the reconciliation volume problem that traditional tools cannot handle. From that base, the company expanded across LATAM, building customer relationships with banks, payment processors, and enterprises in Mexico, Peru, Chile, and Brazil. The Y Combinator cohort (2021) provided both capital and the network connections to accelerate that expansion, opening doors with US-based fintechs with LATAM operations and with the venture-backed LATAM fintech companies that move in YC's orbit.
Integration Depth as Competitive Moat
Simetrik's value compound over time through integration depth. Each new data source connected to the platform — a new payment processor API, a new banking partner, a new ERP integration — expands the platform's utility for existing and future customers, while the configuration work done for each customer creates proprietary workflow logic that is difficult to migrate away from. A fintech that has spent six months building and refining reconciliation rules in Simetrik has invested operational knowledge in the platform that represents a real switching cost — not because the software is hard to leave, but because the institutional knowledge embedded in the configuration is valuable and not easily portable.
The Enterprise Path
Simetrik's growth trajectory points toward the large-bank and insurance company segment, where transaction volumes are highest and operational reconciliation costs are correspondingly largest. Entering this segment requires navigating procurement processes that can extend for months, meeting information security standards that are more demanding than fintech requirements, and competing against established enterprise reconciliation platforms that have certifications and compliance track records built over years. Simetrik's competitive case in this segment rests on modernity (cloud-native, real-time, configurable without IT) versus the legacy architecture of incumbent platforms — a compelling argument if it can be validated at the reference case level with a small number of large-bank deployments.