LatAm List – Konfío, a Mexican fintech that helps businesses access credit, extends its credit lines to MXN$6M ($320K) for SMEs.
In 2017, Konfío’s credit offers were limited to MXN$500K ($26K) and focused on small businesses and entrepreneurs. With this extension, Konfío seeks to take on a new market segment which will allow it to continue to grow and support Mexican SMEs in 2020.
“2020 will be a year of expansion and diversification for Konfío, we’re developing new financial solutions that will allow Mexicans to accelerate their business’ growth and make us their ally. As for our credit offers, we combine Konfío’s technology with the process of asking for a mortgage loan, to obtain a timely credit,” explained Filiberto Castro, Chief Growth Officer at Konfío.
Castro stated that with this new product, business owners can gain liquidity in 48 hours, allowing them to seize opportunities and reach their expansion goals.
Konfío has over a million registered users and, in 2019, issued more than $100M in loans to 7,500 SMEs. Last year, the fintech also raised $100M from tech giant SoftBank, and $250M in credit lines from Goldman Sachs and Victory Park Capital.
Read more on Wild Entrepreneur.
Learn more about Konfío:
SoftBank invests $100M in Mexico’s Konfio
PayPal and Konfio Partner to Lend to Small Businesses in Mexico
Konfío raises USD$250M from Goldman Sachs and Victory Park Capital
