Finaktiva raises $8M for SME finance services

LatamListFinaktiva, a Colombian fintech, raised a $8M funding round led by Alive Ventures (LatAm Impact Ventures). Other investors included Acumen, Conny & Co AG, Trinity Capital, Invictum Capital, Andeo, and various angel investors.

Finaktiva is a leading financial services platform for SMEs and entrepreneurs in Colombia. The fintech uses technology to gain insight into each stage of business maturation and support companies at each stage. The software includes flexible credit solutions for early-stage startups, to credit solutions, factoring, and debt funds for scaling companies.

“During the COVID-19 pandemic, SMEs suffered worse than most under the restrictions and economic conditions, making it difficult for them to meet bills and generate revenue,” said Pablo Santos, founder and CEO.

Despite the fact that SMEs represent 99.5% of all companies in Latin America, they account for only 12% of the region’s credit system. Finaktiva is working to democratise access to credit and reduce the financial gap by providing access to capital for SMEs.

“These new resources will allow Finaktiva to continue growing its product offering for customers and to be the best service to support companies with their finances,” said Santos.

The startup will use the funding to establish new financial services within the platform for SMEs and entrepreneurs.

Read more on Latam Fintech Hub.

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