Mexican fintech KredFeed raised $1.5M from Carabela, Techstars, 2045 Ventures, The Pitch Fund, AngelHub, Newlin Ventures, Cacao Capital, Jeremy Brown, Alec Randall, Sahari Cabello, and GAIN.
KredFeed helps SMEs to solve working capital needs by enabling customers to sell their invoices and get up to 95% of the invoices’ value immediately, and by advancing payments to customers’ suppliers, charging a fee on the advancement. KredFeed also has a platform to manage accounts payable and receivable.
KredFeed will use the funds to hire new people for the Engineering team, enhance the platform’s UX, make strategic partnerships, implement machine learning to optimize risk analysis and scale the platform to serve new customers.
“With more multinational companies setting up production plants in Mexico, local SMEs need financial solutions tailored to their reality. With this round, we will be able to scale our financing solutions, ensuring that these businesses operate without liquidity and working capital risks, regardless of corporate payment terms,” said KredFeed’s Co-Founder and CEO Luis Jorge Sánchez.
Founded in 2019, KredFeed has financed over $20M in accounts receivable for SMEs.
Read more on LatamFintech Hub.
