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.