LatamList – Atrato, a Mexican fintech, raised a $2.7M seed round led by Accel. Various angel investors also participated in the round, including Martin Schrimpff, founder of PayU, and Bill Clerico, creator of WePay.
Atrato is a credit platform that offers users advanced technology to underwrite clients’ loans at the point of sale on e-commerce sites.
“Businesses across the world have seen the benefits of the ‘buy now, pay later’ solutions. It has dramatically increased buyer rates and makes the purchase of products more accessible to a larger number of people,” said Dan Levine, Partner at Accel.
The startup also recently took part in the Y Combinator accelerator program, developing and growing the platform.
“We aim to continue to support businesses, be that physical or online, to be able to offer this sort of loan to their clients. This will give them a greater opportunity for sales growth,” said Rogelio Rea, co-founder of Atrato.
The new funding will enable the startup to provide more than 30,000 loans over the next year. Atrato aims for a 10-fold growth in 2021 compared to the previous year.
Read more on Forbes.