Zenfi raises $8.5M round led by Magma Partners

Women using phone

Mexican fintech Zenfi closed an $8.5M round led by Magma Partners. Cometa, Redwood Ventures, Polígono, Conny & Co., and Unpopular Ventures also participated.

Zenfi is a personal finance platform that began 7 years ago by giving personal loans at the lowest interest rates in Mexico through Yotepresto. Zenfi has since evolved into a personal finance app that assists its users in improving their credit scores and financial health.

Zenfi is a profitable company with $10M ARR, and more than 3 million users to date. Its lending app, Yotepresto, has lent over 100 million with a low default rate of 3.4%.

The company will use these funds to improve the platform, develop new products, expand to other Latin American countries and increase its workforce.

Read more on TechCrunch

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You May Also Like