Chile-based Kredito raises $4M to help businesses get loans

▤ Summary

“What we see is that in our sector people have a bank account but don’t have access to credit,” said Sebastian Robles, co-founder and CEO of Kredito. “We use proprietary algorithms and alternative data to evaluate credit risk more inclusively than traditional banks,” the company said in a statement. Kredito makes money by serving as lead generation for the traditional banks and charging them a small percentage for each loan they bring in. In addition to its loan service, Kredito is also developing a debit card product that will be available in the next couple of months. Like other fintechs in the region, the company’s strategy is to launch individual financial products one at a time without having to apply to be a full bank.

$ Funding

▦ Linked Companies