MEXICO – Crediclub, a Mexico City, Mexico-based lending platform, raised US$80m in funding.
Backers included L Catterton, IFC, Sarona, and other global investors. The transaction is expected to close in early 2023, subject to customary regulatory approvals.The company intends to use the funds to accelerate growth to provide all Mexicans with access to greater and more affordable financial products, continues to invest in technology to improve the customer relationship experience for both its lending and deposit products. Founded in 2005 by Juan Francisco Fernández, CEO, Crediclub, S.A. de C.V., S.F.P. is an impact oriented regulated financial institution with a mission to drive financial inclusion in Mexico by offering top-tier financial products. The company’s product portfolio includes group, individual, and productive personal loans; savings and investments; a digital wallet with BNPL capabilities; and an offering for small and medium sized businesses. Crediclub has 2.5 million credit operations and more than $2 billion in loans granted historically. The company recently launched several new technological initiatives to expand its suite of lending products, including Crédito Express Productivo and a digitally-driven offering in Small and Medium Enterprises (SMEs) lending and investment services.30/10/2022
