U.S. Online Small Business Lender Camino Financial Raises $8 Million Through Series A Funding Round Led By Crédito Real

Camino Financial, a U.S.-based online small business lender, announced on Wednesday it raised $8 million through its Series A funding round, which was led by Crédito Real. Founded in 2014, Camino Financial offers business loans and solutions to help small businesses grow. The platform further explained:

As a tech-driven company, Camino Financial has created an online credit and educational experience that helps businesses improve their financial performance and graduate into cheaper and longer term loans.”

While sharing more details about the service, Sean Salas, CEO of Camino Financial, stated:

“Data is power, we are excited to be using our platform to build the largest pool of application and performance data on underbanked U.S. Latinx businesses. Armed with this information, we can build machine-learning models to help make credit and other financial solutions more accessible to this ‘New Mainstream Economy.’ Ultimately, we see a future where Latinx businesses expect finance companies to have omnichannel capabilities, so we’ve designed our technology for simple integration into corporate distribution partners with entrenched networks in the Latinx market.”

Camino Financial also noted that the financing round comes just a little over a year after the launch of a joint Crédito Real and Camino Financial credit facility focused on lending to U.S. Latinx businesses. Luis Berrondo, M&A and Business Development Officer of Crédito Real, added:

“For nearly 14 months, Crédito Real has worked with Camino Financial as a debt partner, actively monitoring loan portfolio growth and credit performance. This partnership has only strengthened our belief in the U.S. Latinx market, and as a result we made the decision to deepen our relationship with Camino Financial as an equity partner. We are confident this expanded relationship will enable Camino Financial to build upon the company’s already-impressive, Latinx-focused financial solution platform.”

Sponsored Links by DQ Promote


You may also like...

Send this to a friend