Goldman Sachs has lent $100mn to Konfio, a startup providing unsecured working capital to SMEs.
This will help the Mexican FinTech lend about $250mn within 12 months.
Goldman Sachs’ Ram Sundaram praised Konfio’s “unique approach to credit underwriting”.
He added that the FinTech is supporting a poorly served segment of the market in Mexico and the wider region.
What does this mean?
Mexico was recently showcasing the strides made by the region in the FinTech space at Finnosummit, which was attended by DIT as part of a trade mission to Latin America.