Colombian fintech Avista raised a $12M credit facility from Bancolombia to expand credit access to Colombian pensioners.
“This funding will allow us to strengthen our service offering and expand operations to provide better and more accessible financial solutions to the people,” said Martin Restrepo, Co-founder of Avista.
Avista aims to bring financial inclusion to unserved population segments by offering payroll-deductible loans to pensioners, teachers, and members of the military forces.
The company is also developing new products like insurance and introducing more credit products.
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