Online credit marketplace Camino has raised $2m in a new round of venture funding. The investment was led by Collaborative Fund and Hunt Holdings with Comcast Ventures and Impact America also contributing.
Camino’s online marketplace focuses on origination loans for Hispanic-owned small businesses seeking an alternative source of capital to banks.
Founded by twin brothers Sean and Kenny Salas the company claims that Hispanic-owned small businesses are the largest and fastest growing underbanked business segment in the US.
“The Salas brothers have continued to prove out their hypothesis that Latino-owned small business is one of the greatest opportunities for growth in the United States economy,” said Kanyi Maqubela, a partner at Collaboration Fund.
“Their progress to-date and our continued investment are both reflections of this reality.”
The Los Angeles-based startup previously took on $750,000 in seed capital from institutional and angel investors.
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