Last week, Mexican peer-to-peer lending platform, Kubo.Financiero announced it had secured $7.5 million during its Series A funding round, which was led by Bamboo Finance with participation from Endeavor Catalyst, Monex Grupo Financiero, KuE Capital, Tanant Capital, Javier Molinar, Alta Ventures Mexico Fund I, Capital Invent, Vander Capital, and Wayra.
Founder and CEO of Kubo.Financiero, Vicente Fenoll, stated this is a sign of confidence not only for the company but also for Mexico’s fintech industry. He noted the funds from the funding round would be used to accelerate the growth of Kubo’s “highly disruptive model,” so that it can promote personal, and economic development of customers.
Bamboo Finance’s investment director for Latin America, Bernhard Eikenberg, commented:
“By combining technology and data, Kubo [connects] credit applicants with high-quality investors, making them [a] more accessible financial [service] and [will reach new markets.”
Heberto Taracena, a partner at Capital Invent, shared:
“We are excited to continue contributing, along with Vincent and equipment Kubo in its so important to strengthen the middle class in Mexico through innovative financial services mission. We are convinced that Kubo will be the great success story in the sector Fintech that Mexico is waiting. “
Diego Serebrisky, managing director of Alta Ventures Mexico Fund I, Managing Partner of Dalus Capital and Board Member of Kubo, added:
“We decided to continue supporting kubo in this round of capitalization, because it is one of the leading companies in the Fintech industry in Mexico, offering a much higher financial product competition, generating huge profits for their customers. “