Crediclub, a Mexican lending platform, has raised $80m in a recent investment round following a partnership with investor L Catterton.
Crediclub, S.A. de C.V., S.F.P. is an impact-oriented regulated financial institution with a mission to drive financial inclusion in Mexico by offering top-tier financial products.
Crediclub has 2.5 million credit operations and more than $2bn. in loans granted historically, in addition to being a leader in the digital savings and investment segment.
The investment will be used to accelerate Crediclub’s growth and support its mission to provide all Mexicans with access to greater and more affordable financial products.
This partnership provides Crediclub with significant growth capital and harnesses the combined expertise of multiple leading global investors to expand Crediclub’s product offering in Mexico, drive customer acquisition, enhance technological capabilities, and accelerate brand awareness.
The new co-investors, which are investing as part of L Catterton’s original equity commitment include IFC, Sarona and other international players.
“We have developed a strong and productive partnership with L Catterton and are thrilled that they leveraged their broad relationships across the globe to support our continued growth,” said Juan Francisco Fernández, CEO and co-founder of Crediclub. “These new investors bring additional expertise as we enhance the capabilities that make Crediclub such a powerful alternative to traditional banks.”
The transaction is expected to close in early 2023, subject to customary regulatory approvals.
Udaan, a B2B marketplace with a vision to “transform the way trade is done in India leveraging technology”, recently raised $120m as it eyes going public.
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