LatAm List – As one of the leading fintech startups in Colombia, Finsocial provides personal loans to pensioners, teachers, and other unbanked segments. They have operations in Colombia, Mexico, Peru, and the US.
The company announced an agreement with Morgan Stanley for two lines of debt financing, of $75M and $50M, respectively, to expand its lending capacity.
The combined financing of $125M is the largest debt package ever made in Colombia to an unregulated loan originator, which speaks to the growing appetite for Latin American fintech opportunities.
“This operation is a seal of approval of our operation and governance. It raises our level and puts us on the radar of global banks and the largest investors. It could even allow us to issue bonds in the US.”, said Santiago Botero, Finsocial CEO.
Finsocial’s goal is to reach $10M of new loans per month, a 100% increase over their current portfolio.
Read more at LAVCA.