Creze uses technology to analyze risk and provide online small business loans to help SMEs grow. In 2015, Creze’s founders realized there was an urgent need to close the US$60M financing gap that exists for Mexico’s small and medium sized businesses. Currently, credit solutions offered by traditional financial institutions are practically inaccessible for SMEs in Mexico and often require days or weeks to be approved.
The investment from Arc Labs of up to US$10M will help Creze provide more small business loans, which it processes online in under 48 hours.
“This new round of funding, which is added to our previous rounds, will allow us to continue growing to become leaders in financial innovation for SMEs, which continue to be the driving force of the Mexican economy,” said Gonzalo Cegarra, CEO of Creze, in an interview for AMEXCAP.
Arc Labs is a strategic partner, as the Silicon Valley firm is experienced in credit investments for tech companies. Creze offers loans of up to one million Mexican pesos for up to 12 months.
Read more in the original press release for AMEXCAP.