Investment

Colombian lending startup, Sempli, raises US$5.7M from Oikocredit & IDB Lab

LatAm ListSempli is a Colombian startup that provides loans to SMEs using proprietary technology and human-backed due diligence to turn around loan applications in under 72 hours. They offer loans of US$10-100K for periods of 3-36 months, and have already issued more than US$10M in loans, more than 572% growth since August 2017.

The fintech startup recently raised over US$5.7M from social impact investor, Oikocredit, and the Inter-American Development Bank via their investment arm, IDB Lab.

“We have learned from our clients that responsible debt is crucial to enabling them to grow their operations consistently. Partnering with Oikocredit and BID LAB gives us confidence to enhance our value proposition, and we are currently building the foundation to become the most relevant digital financial institution in Colombia in the SME segment,” said Sempli cofounder Esteban Velasco in an press release for LAVCA.

Sempli will use the new investment to grow and attract new clients as they prepare for their Series A round in 2019.

Read more in the original press release on LAVCA.

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