LatamList – Santander InnoVentures, a corporate venture capital fund, led a $5M investment round in Brazilian fintech a55.
a55 is a lending platform for SMEs in Latin America that provides revenue-backed credit lines to SaaS companies. They aim to become the largest financing service for service-based companies in the region.
The company provides a credit monitoring dashboard, information on revenue and cost metrics, an integrated cash flow management system, and escrow and revenue lock up tools for clients. Currently, their SaaS software provides more than 50 companies across Mexico and Brazil with loans.
“The current crisis will accelerate shifting consumer habits to digital and subscription models. […] a55 is in a privileged position to support the Brazilian and Mexican companies with their financial offering, tailored to their needs and particularities, and built by entrepreneurs for entrepreneurs,” commented Manuel Silva Martínez, Managing Partner at Santander InnoVentures.
Martínez will join a55’s board of directors and work closely with the company to develop its product and business.
Read more on Santander.