Experian announces strategic investment in Palenca
Summary
This collaboration aims to create new solutions to financial institutions needs regarding income and employment analysis.Palenca already covers over 115 million workers, ranging from gig workers to formal employees, and collaborates with over 70 clients including leading financial institutions and fintechs in Mexico, Brazil and Colombia like Banco Falabella, Rappi, Galgo and Neon. These companies use Palencas API to verify their users ability to pay to offer tailored financial services. Our investment in Palenca, a leader in income verification solutions, aligns with our principles, ultimately benefiting Brazilians." "This is another advancement, part of the startup investment strategy that Experians Venture Capital (VC) arm carries out in Latin America. This move allows us to deeply understand high-value markets in which we want to act as development catalysts, establishing partnerships to accelerate the ecosystem and internal initiatives.