The investment will be used to expand RedCapital’s operations in Chile and Peru, and continue expanding in the rest of Latin America, specifically Colombia and Mexico, and the United States. RedCapital has processed more than 3,800 transactions, a total value above $90M. In 2018, they financed more than $50M, which they expect to double in 2019.
HCS Capital, an investment firm based in Miami with offices in Santiago, Chile, has previously invested in Chilean companies in the areas of FinTech and InsurTech, including Jooycar, We Technologies, and Ceptinel.
Gustavo Ananía, founder and CEO of RedCapital, stated that they are excited that HCS has given RedCapital an opportunity to grow alongside FinTech and machine learning companies that will help them enter markets in Latin America and the United States.
Alex Horvitz, CEO of HCS Capital Partners, expressed that this investment in RedCapital presents growth opportunity in Latin America and the United States.
Read more at Diario Financiero.