Citi grants $6M in debt to Colombian fintech Sempli

Sempli, specializing in providing working capital loans to micro, small, and medium-sized enterprises, has secured a $6M debt from Citi, marking its initial foray into international commercial banking support. 

This transaction falls under the Scaling Enterprise program, backed by the U.S. International Development Finance Corporation (DFC) and the Ford Foundation.

One of the agreed commitments is that 40% of the resources will be allocated to supporting women-led companies in the country.

Elizabeth Rey, president of Citi in Colombia, added, “We take pride in closing this financing, which promotes financial inclusion for thousands of micro-entrepreneurs who lack formal support and play a critical role in supporting their families and communities.”

Sempli’s co-founder and CEO, Esteban Velasco commented: “Through this loan, we will be able to continue supporting the responsible growth of thousands of entrepreneurs in our country, with a special focus on women entrepreneurs who lead and own their businesses. This funding gives us the confidence to keep growing with our platform,” 

For more information, visit Forbes.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like