LatAm List – Mountain Nazca, a Mexican VC firm, announced its exit from Creze, a credit loan fintech, and Kavak, a used car marketplace.
Creze, a startup that supports SMEs with credit loans, was acquired by the fintech Polygon in December 2019. Mountain Nazca exited the company with 100% of its original investment.
The company also recently exited Kavak in April with the firm’s stakes in the startup being bought by SoftBank and General Atlantic, two other VC firms active in Latin America. Mountain Nazca has worked with the Kavak founders for four years prior to the exit.
“Lori, Carlos, and Roger are an example of the new generation of entrepreneurs in Mexico and Latin America. Their achievements are an inspiration for all who were part of their journey,” said Héctor Sepúlveda, Managing Partner at Mountain Nazca, about the Kavak founders.
Both exits are reported to result in a return of more than $50M for Mountain Nazca. The firm continues to be an active part of the Latin American ecosystem, supporting startups such as Albo, Jüsto, Truehome, Ben&Frank, and Crehana.
Read more on the press release.