LatAm List – Mexican fintech Credijusto, recently raised $100M in debt from Credit Suisse Group– a cash infusion that will help the startup extend more loans to SMEs as banks evaluate how to respond to the market turmoil caused by the coronavirus outbreak.
SMEs already struggle to access financing from Mexican banks which could worsen if financial institutions retract and take a more conservative stance in response to the pandemic.
“It is going to be a more challenging time for raising capital and that’s not just in Latin America, that’s everywhere,” said Michael Sidgmore, a partner at venture capital firm Broadhaven Ventures, which has invested in Credijusto.
Sidgmore said the increased volatility in the markets could create an opportunity for Credijusto, which has seen a spike in interest from SMEs in recent weeks.
Read more on Reuters.
