AltScore Raises $3.5M in Seed Funding
Summary
AltScore, a Mexico-based fintech startup that is building a B2B lending infrastructure, raised $3.5M in Seed funding. The company intends to use the funds to continue developing its end-to-end Lending-as-a-Service (LaaS) solution to help its B2B partners embed and deploy credit products while giving MSMBs fair and timely access to liquidity in LatAm, adding modules such as Smart Collections, Loan Management, and Embedded Lending. AltScore started operating in Ecuador in January 2021 with the vision of providing fair and efficient access to credit for underrepresented borrowers. The company now offers LaaS APIs providing underwriting, alternative data and scores, and other lending modules. With AltScore, businesses increase customer retention and LTV by embedding and deploying credit products.