Colektia, a fintech that utilizes AI for debt collection management, has acquired a non-performing loans portfolio valued at $72M. This move, backed by investors from Mexico, Europe, and the US, brings Colektia closer to aiding individuals in resolving debts and assisting financial institutions in managing delinquent portfolios.
“Our goal is to help individuals rebuild their credit history and enable them to obtain financing again,” said Gabriel Monroy, CEO and co-founder of Colektia, emphasizing the significance of this acquisition in achieving the company’s mission.
In Latin America, millions of people are in debt and unable to access financing due to being listed in credit bureaus. Colektia aims to provide these individuals with a new financial beginning through its innovative AI-based technology, designed to create personalized, humane, and effective debt settlement strategies.
As of January 2023, overdue loans in Mexico have seen a 24.8% year-over-year increase, reaching approximately $1.7 billion USD, highlighting the growing need for Colektia’s debt management solutions, according to Banco de México.
Read more at contxto.com
