Credijusto, a Mexico-based FinTech offering asset-backed loans and equipment leases to SMEs, has collected $42m in its Series B.
Point72 Ventures and Goldman Sachs PSI led the investment, with contributions also coming from Thomvest Ventures, Wolfson Group, Third Lake Capital, and Argo Ventures. Previous backers of Creditjutso, including Kaszek Ventures, QED Investors, Broadhaven Capital Partners, John J. Mack, and Supernode Ventures, also joined the round.
This fresh funding comes just five months after the FinTech received a credit facility, of up to $100m, from Goldman Sachs.
Proceeds from this series will be used to expand credit access for SMEs across Mexico. Additionally, capital will be used to support the growth trajectory and launch new products, such as a digital advisory services and credit card for SMEs.
Credijusto provides small and medium-sized businesses with access to affordable loans. A business owner simply contacts the company, completes a file and then receives funding – referring customers can even lower interest rates. Businesses can take out loans from $200,000 to $10m.
Point72 Ventures Partner Pete Casella said, “Credijusto’s tech-enabled approach to meeting the financial needs of Mexico’s underserved SME segment has huge potential. This is a very large market opportunity in which, after four years of rapid growth, the company has significant competitive advantages.
“We have been impressed with the growth in the Mexican fintech space, and this investment reflects our belief in Credijusto’s ability to become the market leader in Mexico. We look forward to working with the company to help it achieve its ambitious goals,” added Don Butler, Managing Director of Thomvest Ventures.
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