AlphaCredit, a Latin American fintech that specializes in consumer lending and financial solutions for SMEs, announced on Sunday it has signed an equity round for up to $125 million. The round is led by SoftBank’s Latin America Fund and will notably allow AlphaCredit to continue its expansion efforts.
Founded in 2010, AlphaCredit has granted more than $1 billion in loans granted to its clients. It also continues to offer “tailor-made” lending solutions to consumers and SMEs.
“AlphaCredit is a leading and one of the fastest growing technology-enabled financial platforms in Latin America, providing consumer loans and financial solutions for consumers and SMEs in Mexico and Colombia through innovative solutions and cutting-edge technology.”
Speaking about the investment round, Augusto Álvarez, Cofounder and Co-CEO of AlphaCredit, stated:
“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.”
Paulo Passoni, Managing Investment Partner at SoftBank Group International, went on to add:
“AlphaCredit provides fast, cheap credit lines to individuals and small companies via a programmed deduction system, which have low default rates thus allowing for low interest rates. Their approach is superior to everyone who belongs to their ecosystems and why we are so excited to back these awesome entrepreneurs who are changing the landscape in Mexico and Colombia.”