Colombian fintech RapiCredit raised $5M in debt from Alma Sustainable Finance (Almavest). This investment follows Rapicredit $7M, also from Almavest.
Rapicredit offers fast and flexible microloans from $25 to $250, catering to the unbanked population and customers with low credit scores.
“In Colombia, access to credit remains a distant possibility for millions. For those without a credit history, who work informally, or who simply don’t meet the traditional requirements of the banking system, credit isn’t a tool for progress, it’s a closed door,” said Daniel Materón, RapiCredit’s CEO.
Rapicredit will use the funds to increase its credit offering.
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