This investment makes Konfío one of Latin America’s largest fintech companies in terms of investment received, and will be used to grow the fintech’s lending business to more than 25,000 SMEs.
Konfío aims to grant $250M to SMEs over the next 12 months. Bigger loans than the current average of $20K will be possible with this funding.
“Konfío brings a unique approach to credit underwriting for a segment of the market that’s poorly served in Mexico and more broadly across the region,” said Ram Sundaram, Partner at Goldman Sachs.
Since its founding, Konfío has served 1M and provided them with technology that helps them organize data and better understand their businesses.
“The loans market for small businesses and entrepreneurs represents only 4% of Mexico’s GDP, significantly below other Latin American markets. We are delighted to continue to work alongside Konfío to improve access to credit driven by the digital transformation of loan products and help grow the company’s ability to support local businesses,” said Gordon Watson, Partner at Victory Park Capital.