Finsocial raises $20M for digital credit loans in Colombia

LatamListFinsocial, a Colombian fintech, raised $20M from Symbiotics, a Swiss VC fund, and Bancoldex. The platform will use the investment to develop its credit lines FinsoCrédito, FinsoAmigo, FinsoProductivo, FinoTienda, and FinsoAlivio.

Finsocial is a digital credit loan platform for professionals and pensioners in the public sector. The global pandemic has resulted in an increased demand for credit loans, and Finsocial’s digital access has been an invaluable asset during this time.

The startup has approved over 8,000 credit loans through its digital platform. Finsocial has various credit lines;

  • FinsoAmigo – a completely digital credit, accessible via a virtual credit card.
  • Digital Libranza – a credit adapted for the current climate of confinement.
  • Finsoproductivo – a credit line connected to the National Guarantee Fund (FNG) and Bancoldex.
  • FinsoTienda – designed for entrepreneurial companies that require additional funding.

During the global pandemic, Finsocial has taken measures to support those who need it most, connecting with government resources and deferring interest rates on the loans. 

Read more on Latam Fintech.

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