AVLA, a Chilean business insurance platform, raised an $18M (R$100M) funding round from Creation Investments. The startup will now begin its international expansion, starting with Brazil.
AVLA is an insurance platform that supports SME businesses with a range of financial services, including loans and credit lines. The platform connects SMEs with investors with an insurance policy that protects the payout of the credit line.
“In addition to providing access to judicial guarantees for SMEs, we want to restore the credibility of the Performance Guarantee Insurance, which has a history of long legal processes and non-payment of claims,” said Felippe Astrachan, CEO of AVLA in Brazil.
In the past year, AVLA has provided more than $120M in credit lines for SMEs in Peru and Chile. The platform is backed by 23 international investors from across Latin America.
“We aim to promote growth and development in Latin America. We came to Brazil with a commitment to deliver financial solutions to more than 14 million SMEs in the country. Trybe is a highly trained and talented team whose mission is to serve in a close, flexible, and innovative way,” said Ignacio Alamos, global CEO of the company.
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