AlphaCredit© enters into an agreement to raise up to USD$125 million from an investor group led by SoftBank's Latin America Fund
Summary
The equity infusion will allow AlphaCredit© to consolidate its place as one of the leading financial technology platforms in Latin America, continue its expansion and leverage the competitive advantages of its proven and profitable 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," stated Augusto Álvarez, Cofounder and Co-CEO of AlphaCredit©. "Through this equity investment we will continue to provide fast, easy and flexible loans for individuals and small businesses, helping them improve their quality of life and promoting economic growth," mentioned José Luis Orozco, also Cofounder and Co-CEO of AlphaCredit©. 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," commented Paulo Passoni, Managing Investment Partner at SoftBank Group International. Other leading international venture capital funds along with a group of its existing investors are joining Softbank in this Series B round, contributing their experience to the development of the FinTech sector in Latin America.