Mexican FinTech company Arrenda scores round of debt and equity

Mexican FinTech startup Arrenda has reportedly collected $26.5m in a funding round composed of debt and equity.

Fasanara Capital served as the lead investor, with commitments also coming from Kube Ventures and ODX, according to a report from Nasdaq.

The company has around $12m in finance requests pending and hopes to provide $2.5m this year. It also stated it hopes to increase its rate of financing next year.

Arrenda claims to empower trust and liquidity in LatAm real estate. A user begins by inputting personal data, information about the property and calculating the advance. Arrenda will then validate the information and send a contract with the funds to be received.

Its website claims that its loans offer up to 12 months of the applicant’s income, has no commission for opening, and can approve advances in 24 hours.

Fasanara Capital previously joined the $55m funding round of B2B buy now, pay later platform Playter.

There have been a number of notable FinTech funding rounds in Mexico this year. Last week, credit card company Stori became the country’s latest FinTech unicorn. The company, which is valued at $1.2bn, provides underserved populations with access to credit card products, and currently has 1.4 million customers.

Another Mexican FinTech company to close funds this year was UnDosTres, which netted $30m in its Series B.

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