SoftBank leads a $125M Series B in Mexico’s AlphaCredit

FILE PHOTO: Signage for SoftBank Group Corp. is displayed outside one of the company’s stores in Tokyo, Japan, on Tuesday, May 9, 2016. SoftBank on July 18, 2016, agreed to buy ARM Holdings Plc for 24.3 billion pounds ($32 billion), securing a slice of virtually every mobile computing gadget on the planet and future connected devices in the home. Photographer: Tomohiro Ohsumi/Bloomberg

LatAm List – Japanese tech giant, SoftBank, recently led a $125M round of investment in AlphaCredit, a Mexican fintech that provides fast and cheap credit lines to individuals and small businesses using a programmed deduction system.

AlphaCredit has over eight years of experience operating in Mexico and Colombia and has granted over $1B in loans to small business clients left out of the traditional banking systems or that do not have access to other forms of financing.

“Cutting edge technology and strong financial backing have allowed us to grow exponentially while promoting the economic development of a greater number of people that have limited access to credit,” commented Augusto Álvarez, co-founder and Co-CEO of AlphaCredit. 

Read more on Finextra or PR Newswire.

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