AlphaCredit, a consumer lending platform for Mexico and Colombia, has secured $125m in its latest round.
Softbank led the investment with its Latin America Fund.
With the fresh funding, the FinTech will look to increase its expansion across Latin America.
The Mexico-headquartered company offers both consumer loans and SME financing. Its consumer loans are available to government employees, pensioners and retirees, and independent and private employees.
Business loans can be used for factoring, leasing and working capital.
SoftBank managing investment partner Paulo Passoni said, “AlphaCredit provides fast, cheap credit lines to individuals and small companies via a programmed deduction system, which have low default rates thus allowing for low interest rates.
“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.”
Late last year, Softbank led the $250m Series D round of PropTech platform QuintoAndar. The platform helps consumers in the country to rent or buy property online.
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