Problem

Milio addresses the friction and cost of moving money for businesses in Latin America, where legacy B2B payment infrastructure relies on slow ACH processes, fragmented bank connections, and expensive card or local payment rails. The company’s launch materials cite transaction costs of up to 3%, cross-border FX spreads of up to 5%, siloed ERPs, and more than 20 hours per week of manual treasury work. The result is slow settlement, difficult reconciliation, and poor payment experiences for businesses and their customers.

The main use case is enabling a business to collect or disburse money instantly through account-to-account payments, particularly at B2B checkout. A merchant, marketplace, fintech, or other enterprise can let a customer pay directly from a bank account, receive reconciled funds immediately, and automate recurring collections, payouts, and treasury workflows rather than managing separate bank and payment-provider integrations.

Product / Service

Milio is payment infrastructure delivered through a single API, with APIs, SDKs, a white-label checkout, and dashboard interfaces. Its platform connects companies to bank accounts and digital wallets, supporting domestic and cross-border account-to-account payments, payment initiation, recurring debits, batch disbursements, cash-in and cash-out, transaction monitoring, and automated reconciliation. The original Colombia offering included a one-click B2B and C2B checkout designed to avoid redirection and reduce dependence on PSE and ACH cycles.

For banks, Milio offers direct core-banking and channel integrations; for fintechs and businesses, it offers production-ready plug-and-play APIs and SDKs. The intended benefits are real-time or near-real-time settlement, lower payment and FX costs, faster implementation, end-to-end transaction visibility, and less manual work. Milio’s published claims include up to 80% lower transaction costs, more than 10 hours saved per week, a two-times improvement in checkout conversion, availability around the clock, and fund availability in under a minute.

Market

Milio competes in fintech payment infrastructure, real-time account-to-account payments, B2B payments, cross-border remittances, and treasury automation. Its initial positioning was Colombia-focused, but its stated ambition and current materials extend across Latin America and international corridors. The closest local alternatives are established payment rails and methods such as PSE and Transfiya, while broader infrastructure competitors identified in company databases include Stripe, Nuvei, and Airwallex. Milio differentiates itself by combining bank connectivity, embedded B2B checkout, cross-border transfers, and treasury workflows in one API rather than offering only a payment button or a single transfer rail.

Milio was founded in 2022, joined Y Combinator’s Winter 2023 batch, and is listed as active in Bogotá. Public evidence indicates an operating company rather than a merely pre-launch project: its website reports production-oriented network metrics, its LinkedIn presence lists an approximately 18-person team, and 2025 posts describe live remittance and card-based payment use cases involving Visa Direct and Coopcentral, including corridors to more than 40 countries. The available evidence does not disclose revenue or customer counts, so traction is best characterized as early commercial and infrastructure traction rather than independently verified scale.