The Superintendencia Financiera de Colombia (SFC) issued a public notice stating that AGRAPP, Inverti Fintech and Virtual Abastos, the three winners of Sandbox Challenge Colombia 2023, are not under its inspection, supervision or control because none has obtained the Temporary Operation Certificate required to enter the supervisor’s controlled testing environment. Sandbox Challenge Colombia 2023 involved 26 financial-sector technology initiatives and was run with support from the Inter-American Development Bank (IDB), iNNpulsa Colombia and Colombia Fintech. Although the winners received technical and legal support from the IDB and its legal partner Cuatrecasas to help meet the requirements for a Temporary Operation Certificate, the SFC confirmed that none has demonstrated compliance to date, and it therefore has no competence to comment on their activities or business models. The supervisor also urged the public to make informed investment decisions and to verify whether firms are supervised, including by consulting its supervised-entities listings, the register of Collaborative Financing Companies for crowdfunding, and the securities market registries.
Superintendencia Financiera de Colombia 2025-03-26
Superintendencia Financiera de Colombia clarifies Sandbox Challenge Colombia 2023 winners are not supervised and lack temporary authorisation
The Superintendencia Financiera de Colombia announced that AGRAPP, Inverti Fintech, and Virtual Abastos, winners of Sandbox Challenge Colombia 2023, are not under its supervision as they lack the required Temporary Operation Certificate. Despite support from the Inter-American Development Bank and legal partner Cuatrecasas, none have demonstrated compliance. The SFC advises the public to verify firm supervision status before investing.