Palenca, an income and employment verification provider in Latin America, raised a funding round from Experian Ventures, the investment arm of the data analytics and consumer credit reporting company, Experian.
Palenca will use the funds to expand to Brazil and Colombia, where Experian has an established presence. Palenca will integrate its income verification services with Experian to offer customized financial services.
“Obtaining quality credit as an independent contractor can be challenging due to the variability of their income. For some time, we have been dedicated to fostering a robust credit environment. Our investment in Palenca, a leader in income verification solutions, aligns with our principles, ultimately benefiting Brazilians,” said Rodrigo Sanchez, Vice President of Credit Solutions at Serasa Experian.
Founded in 2021, Palenca serves over 115 million workers, from freelancers to formal employees and collaborates with 70+ clients, including financial institutions and fintechs in Mexico, Brazil, Peru, and Colombia.
Read more on Latamfintech, Palenca
