Kredito raises $4M for SMB loans

LatamListKredito, a Chilean credit platform, raised a $4M pre-seed round for SMBs funding. Investors included Link Capital Partners, Maurice Khamis and Family, partners from Patio Group, and other private investors.

Kredito is a lending platform that generates loans for small to medium-sized businesses (SMBs). The startup uses AI algorithms to underwrite loans in real time, and then connects SMBs to a traditional bank that loans the money.

“We use proprietary algorithms and alternative data to evaluate credit risk more inclusively than traditional banks,” the company said.

The process facilitates securing loans for companies, which often takes months through traditional channels. Kredito acts as a ‘lead generation’ for banks and charges a small fee for each lead they bring in.

Kredito launched in March this year and has already attracted over 2,000 SMBs to its platform. The startup is also developing a debit card to help entrepreneurs with their company’s finances.

Read more on TechCrunch.

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