Latin American fintech company AlphaCredit raised $125m in Series B round
AlphaCredit, a Latin American fintech company, has raised $125 million in a Series B equity financing round led by the Latin America Fund of Japan’s SoftBank.
The Latin American-focused fintech company, through its AXS Access, Check!, Alcanza Capital and Bontu, AlphaCredit platforms, serves small and medium enterprises (SMEs) in Mexico and Colombia with consumer lending and financial solutions.
Apart from SoftBank, other major international venture capital funds and the existing investors of AlphaCredit also participated in the financing round.
The funds from the equity financing round are expected to help boost the presence of AlphaCredit in Latin America as a financial technology platform and to expand its operations, leveraging the competitive advantages of its business model.
Latin American fintech company AlphaCredit raised $125m in Series B round. Photo courtesy of Gerd Altmann from Pixabay.
Augusto Álvarez – cofounder and co-CEO of AlphaCredit said: “We want to thank SoftBank’s Latin America Fund and the other investors participating in this round for placing their trust in us and our innovative business model. 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.”
AlphaCredit is said to have more than eight years of experience in lending in the Mexican and Colombian markets, with more than $1 billion in loans issued to its clients which remain underserved by traditional banks or without access to other types of financing.