Countries › Colombia › Guide › 10. Capital markets and finance › Fintech in Colombia: crowdfunding platforms and caps, the SFC regulatory sandbox, payment initiation, the Bre-B instant payments rules and electronic deposit companies

Fintech in Colombia: crowdfunding platforms and caps, the SFC regulatory sandbox, payment initiation, the Bre-B instant payments rules and electronic deposit companies

Last verified: 2026-10-27 · Status: Changing

Colombia regulates fintech mostly through Decreto 2555 de 2010: crowdfunding needs an SFC authorized exclusive purpose sociedad anónima (or an exchange or trading system) and is capped at 1,526,155.14 UVT per recipient; the SFC sandbox lets new or existing entities test innovative models under a temporary operating certificate for up to two years; payment initiation may be offered even by unsupervised companies through a low value payment system without touching client funds; and since Decreto 1069 de 2025 banks and other issuers with more than 1.5 million active demand deposit products must offer instant interbank transfers through an instant payment system. The narrow SEDPE licence covers electronic deposits and payments.

USD figures use the TRM of COP 3,157.94 per US dollar valid on 27 October 2026, certified by the Superintendencia Financiera and published on the national open data portal (datos.gov.co). Amounts in UVT use the 2026 UVT of COP 52,374 (DIAN Resolución 000238 de 2025) and amounts in minimum wages use the 2026 monthly minimum wage of COP 1,750,905 (Decreto 1469 de 2025). Conversions are for orientation only.

Key facts

Maximum crowdfunding per recipient	1526155.14 UVTDecreto 2555 de 2010 art. 2.41.3.1.2, as of 2026-10-27 · in force
Maximum crowdfunding per recipient when only non qualified contributors invest	499947.37 UVTDecreto 2555 de 2010 art. 2.41.3.1.2, as of 2026-10-27 · in force
Non qualified contributor cap (of greater of income or net worth)	20 %Decreto 2555 de 2010 art. 2.41.4.1.4, as of 2026-10-27 · in force
Maximum length of an SFC sandbox test	2 yearsDecreto 2555 de 2010 art. 2.35.7.1.4, as of 2026-10-27 · in force
Active demand deposit products above which instant interbank transfers are mandatory	1500000 productsDecreto 2555 de 2010 art. 2.17.5.1.2 (Decreto 1069 de 2025), as of 2026-10-27 · in force
Payment initiation open to companies not supervised by the SFC	Yes, through a low value payment system, without holding funds textDecreto 2555 de 2010 art. 2.17.4.1.1, as of 2026-10-27 · in force

The rule

1. Crowdfunding (financiación colaborativa) may only be carried out by exclusive purpose sociedades anónimas that connect many contributors with recipients seeking finance in their own name for a productive project, called crowdfunding companies, and by stock exchanges and authorized trading or registration systems. All are supervised by the SFC, and the name "sociedad de financiación colaborativa" may only be used by authorized entities.Decreto 2555 de 2010, Book 41 of Part 2, added by Decreto 1357 de 2018, Art. 2.41.1.1.3, 2010-07-15 official text · verified 2026-10-27

2. Each recipient may raise at most 1,526,155.14 UVT through crowdfunding entities, or 499,947.37 UVT if all funds come from non qualified contributors; the SFC may raise these caps. Non qualified contributors may not commit or invest through crowdfunding more than 20 percent of the greater of their annual income or net worth; qualified contributors have no limit.
Cost to do it: 2026 caps: COP 79,930,849,302 (US$25.3 million) per recipient, or COP 26,184,243,556 (US$8.3 million) if only retail money is raised.
Example: A start up raising only from retail investors on a platform is capped at about COP 26,184 million in 2026. / That is roughly US$8.3 million; with qualified contributors in the round the cap rises to about US$25.3 million.Decreto 2555 de 2010, as amended by Decreto 1235 de 2020 art. 12, Art. 2.41.3.1.2 and art. 2.41.4.1.4, 2010-07-15 official text · verified 2026-10-27

3. The controlled testing space (espacio controlado de prueba) is the set of rules and prudential requirements that lets applicants test innovative technological developments in activities of SFC supervised entities. Innovations must aim to improve efficiency, solve a consumer problem, foster financial inclusion, improve compliance, or develop or make markets more competitive; they must be ready to test immediately and the services must be provided in Colombia. New entrants must incorporate as a supervised entity under a special procedure (bylaws, description of the innovation, business model and break even, technology). The SFC issues a temporary operating certificate for a test of up to two years, after which the participant follows an approved exit, transition or adjustment plan to obtain a full licence or wind down. Regulatory exceptions granted in the sandbox do not change the general rules.Decreto 2555 de 2010, Title 7 of Book 35 of Part 2, added by Decreto 1234 de 2020 art. 1, Art. 2.35.7.1.1 to 2.35.7.1.4, 2.35.7.2.1 and 2.35.7.2.2, 2010-07-15 official text · verified 2026-10-27

4. Payment initiation may be carried out by credit institutions, SEDPEs, low value payment system operators and companies not supervised by the SFC. It requires the payer's prior authorization and must be processed through a low value payment system operator, and the payment initiator may not manage or hold the payer's funds. Payment system operators may not arbitrarily restrict initiators' access or block their orders, may not agree exclusivity, and must disclose access requirements and costs; initiators must meet the system's operational, technical and security standards.
Example: A foreign e commerce platform can offer pay by bank checkout to Colombian customers as a payment initiator without an SFC licence, connecting through a payment system operator and never holding the money.Decreto 2555 de 2010, Title 4 of Book 17 of Part 2, added by Decreto 1297 de 2022 art. 4, Art. 2.17.4.1.1 and art. 2.17.4.1.2, 2010-07-15 official text · verified 2026-10-27

5. Issuing and receiving entities supervised by the SFC with more than 1,500,000 active demand deposit products (savings accounts, low amount deposits and ordinary deposits with at least one monetary movement in the last six months) must offer their clients interbank instant payment orders and transfers through an instant low value payment system. Entities that cross the threshold must tell the SFC within 30 calendar days and comply within six months, and the SFC publishes the list every six months. Entities whose access channels carry the Bre-B seal set by Banco de la República Resolución Externa 6 de 2023 must enable instant intra entity transfers in those channels; for intra entity transfers outside Bre-B they must offer voluntary return, fraud or error return and reversal procedures through internet and mobile banking and show the masked name of the beneficiary before confirmation.Decreto 2555 de 2010, Title 5 of Book 17 of Part 2, added by Decreto 1069 de 2025 art. 7, Art. 2.17.5.1.2, 2.17.5.1.3 and 2.17.5.1.4, 2025-10-15 official text · verified 2026-10-27 · changed: Decreto 1069 de 2025 (15 October 2025, Diario Oficial 53.275 of 16 October 2025) added the duty to offer instant interbank transfers above 1.5 million active products and the Bre-B intra entity rules.

6. SEDPEs may take funds only through electronic deposits, make payments and transfers, borrow only to fund their operations and send and receive money transfers; withdrawals from electronic deposits are exempt from the tax on financial movements on the terms of ET art. 879 num. 25 (see the banks page for capital and leverage).Ley 1735 de 2014, Art. 1 and art. 2, 2014-10-21 official text · verified 2026-10-27

Activity	Licence	Key limit
Crowdfunding platform	SFC authorized exclusive purpose sociedad anónima, or exchange or trading system	COP 79,930,849,302 per recipient in 2026; retail investor cap 20% of income or net worth
Payment initiation	None required for unsupervised companies; connect through a payment system operator	Cannot hold or manage client funds
Electronic deposits and payments	SEDPE	2% leverage; funds kept at Banco de la República or demand deposits
Testing a regulated activity	Temporary operating certificate in the SFC sandbox	Up to two years, then exit or transition plan
Taking repayable money from the public otherwise	Bank or other credit institution licence	Unauthorized mass deposit taking is a crime (Código Penal art. 316)

Fintech routes in Colombia (Decreto 2555 de 2010; Ley 1735 de 2014)

Worked example

A US fintech planning a Colombian lending marketplace has three options: (1) obtain SFC authorization as a crowdfunding company and keep each borrower under about US$25.3 million (or US$8.3 million if only retail money); (2) enter the sandbox with a temporary operating certificate for up to two years and a transition plan to a full licence; or (3) partner with a licensed bank. Taking repayable funds from the public without any of these risks the crime of unauthorized deposit taking (Decreto 2555 de 2010 art. 2.41.1.1.3, 2.41.3.1.2 and 2.35.7.1.4).
A US checkout provider can launch pay by bank in Colombia as a payment initiator without an SFC licence, provided payers authorize each order and the flow runs through a payment system operator without the provider touching the money (art. 2.17.4.1.1).

Step by step

1. Map each activity to a licence: crowdfunding, payment initiation, SEDPE, credit institution or sandbox.
2. For crowdfunding, incorporate an exclusive purpose sociedad anónima and apply to the SFC; size rounds under the UVT caps.
3. For the sandbox, show the innovation is ready to test and fits one of the listed purposes, and prepare exit and transition plans.
4. For payment initiation, sign up with a low value payment system operator and design flows where you never hold funds.
5. If you will be a large deposit issuer, monitor the 1.5 million active products threshold and Bre-B obligations.

Common traps

Calling a platform a "sociedad de financiación colaborativa" or running one without SFC authorization (art. 2.41.1.1.3).
Letting a non qualified contributor invest more than 20 percent of the greater of income or net worth (art. 2.41.4.1.4).
Holding customer funds in a payment initiation model, which the rules forbid (art. 2.17.4.1.1).
Assuming sandbox exceptions continue after the test: the certificate lasts at most two years (art. 2.35.7.1.4).

Sources

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