Chilean fintech Kredito raises $6M and partners with Grupo Penta

The Chilean fintech Kredito has closed a $6M funding round and also announced a partnership with Grupo Penta, the holding company linked to the Chilean entrepreneurs Carlos Alberto Délano and Carlos Eugenio Lavín. The participants in Kredito’s funding round included Genesis Venture, Amarena and Grupo Penta.

The startup was founded in 2018 by Sebastián Robles and Lukas Burns. Kredito is a financial services platform for SMEs and entrepreneurs. It offers working capital loans, digital accounts and prepaid cards, and free management software.

The digital account -in partnership with Caja Los Héroes- allows transactions and payments to employees and suppliers. The prepaid Mastercard, meanwhile, gives the option of paying for services abroad. To date, Kredito has 105,000 companies registered on the platform, of which 26,000 use it every month.

According to Robles, the fastest growing products for Kredito are the digital account and prepaid card:

“There is a lot of demand, because there is a very large gap in the country and very limited banking products, which has allowed us to grow at rates of 30% to 40% per month in this product.”

Regarding the partnership with Grupo Penta, Robles says that they are working together on a new financial product for SMEs, which they hope to launch in the first quarter of next year.

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