Credijusto, an SME lending platform that is based in Mexico, announced on Friday it has closed a credit facility with Goldman Sachs for up to $100 million. According to Credijusto, The transaction provides the lender with the funding capacity to further expand its lending across Mexico and will support the company in its mission to expand credit access for SMEs. While sharing more details about the credit facility, Allan Apoj, Credijusto Co-CEO, stated:
“The company’s innovative technology and its disruption of traditional underwriting models are reshaping the lending landscape. This financing will further support our growth trajectory and enable us to continue offering credit to the perennially underserved Mexican SME market segment.”
Founded in 2015, Credijusto now provides financial products and services to the SME segment, which forms the backbone of the Mexican economy. Credijusto noted it has sought to address the market inefficiencies largely present throughout the Mexican banking system and it promotes financial inclusion by providing affordable asset-backed loans and equipment leases.
Creditjusto went on to add that its first four years of operation, it has successfully launched multiple financial products and originated more than $70 million in term loans and leases, growing at a compounded annual rate of over 275%.