US-based 
Creation Investments Capital Management recently announced it is leading an equity investment of USD 20 million in Avla, a Chile-based business-to-business provider of insurance, surety bonds and collections services in Chile, Mexico and Peru. The firm’s insurance products include coverage for
Search Results for: mexico
MICROCAPITAL BRIEF: Banverde of Mexico Raises $57m for Rooftop Solar Power from CIFI, Banverde Activos, WRB Serra Partners
Corporación Interamericana para el Financiamiento de Infraestructura (CIFI), a Panama-based financier of privately owned infrastructure projects in Latin America and the Caribbean, recently led a round of funding for Banverde, a private equity fund in Mexico that finances the installation of rooftop solar panels. The funding round totaled USD 57 million, with unspecified levels of funding invested by CIFI and
MICROCAPITAL BRIEF: Latinia Invests in Fintech Ábaco, Microlender in Colombia, Mexico
Spain-based software vendor and financial technology (fintech) investor Latinia recently announced it has invested an unspecified amount of funds in Ábaco, a fintech active in Colombia and Mexico. Based in Colombia, Ábaco makes lending decisions using software that “identifies the behavior of delivery platform workers and freela
MICROCAPITAL BRIEF: Mexico, Morocco Report Increases in Remittances Despite Dire Predictions Due to COVID-19 Pandemic
Residents of Mexico and Morocco received more in remittances from family members living abroad during most of 2020 versus 2019. This despite predictions from sources including the World Bank that the COVID-19 pandemic would cause global remittances to decrease 20 percent “due to a fall in the wages and emplo
MICROCAPITAL BRIEF: E-lending Company Creditas of Brazil Raises $225m in Equity, Eyeing Expansion to Mexico
Creditas, an online lending platform in Brazil, recently raised USD 225 million in equity, valuing the firm at approximately USD 1.75 billion. Among its plans for the new funds is
MICROCAPITAL BRIEF: Contrary to COVID-19 Predictions, Mexico, Nepal Report Increases in Remittances
Contrary to many observers’ predictions regarding the economic effects of the COVID-19 pandemic, residents of Nepal and Mexico have received increasing amounts of remittances from workers living abroad. During July 2020, USD 3.5 billion in remittances was sent to Mexico, a 7-percent increase from one year earlier. This July 2020 figure is the third-highest
MICROCAPITAL BRIEF: IIV Mikrofinanzfonds Reports Losses Under 3%; Invests $3.4m Refinancing Microfinance Institutions in Mexico, Tajikistan
Microfinance institutions in Mexico and Tajikistan recently sold packages of non-securitized loan claims for MXN 61.3 million (USD 2.66 million) and USD 750,000 and to IIV Mikrofinanzfonds, a fund managed by Germany-based Invest in Visions (IIV). The names of the microlenders have not released.
During the first four months of 2020, the two share classes of IIV Mikrofinanzfonds generated losses of 2.7 percent to 2.9 percent. This
MICROCAPITAL BRIEF: Fintech Credijusto Secures $100m in Debt Financing from Credit Suisse for Online Lending to SMEs in Mexico
Mexican financial technology (fintech) firm Credijusto recently borrowed USD 100 million from Credit Suisse, a Switzerland-based financial firm, to help Credijusto become “better equipped to help close the financial gap for SMEs [small and medium-sized enterprises]”. Founded in 2015 and based in Mexico City, Credijusto offers collateral-based loans ranging in size from MXN 200,000 (USD 8,200) to MXN 30 million (USD 1.25 million).
MICROCAPITAL BRIEF: Nvio Pagos México Awarded 1st Fintech License from Comisión Nacional Bancaria y de Valores
The Comisión Nacional Bancaria y de Valores (CNBV), Mexico’s banking and securities commission, recently licensed Nvio Pagos México to operate as a fintech firm. While 85 firms have applied for such licenses, this is the first to have been awarded under the Mexican government’s Financial Technology (Fintech) Institution Law,
MICROCAPITAL BRIEF: AlphaCredit Raises $125m in Equity for Fintech Lending in Mexico, Colombia from SoftBank Innovation Fund, Other Investors
AlphaCredit, a non-banking financial technology (fintech) firm based in Mexico City, recently raised USD 125 million from a group of investors led by the SoftBank Innovation Fund, a vehicle of the Japanese conglomerate SoftBank that focuses on Latin America. AlphaCredit provides loans to individuals in Mexico and Colombia;
MICROCAPITAL BRIEF: MercadoLibre, PayPal Linking Mercado Pago Payment System, PayPal Merchants to Expand Online Payment Options for 348m Customers, Particularly in Brazil, Mexico
MercadoLibre, an Argentina-based platform for online sales and payments in 18 countries in Latin America and the Caribbean, recently entered into a cross-platform agreement with US-based payments firm PayPal. This will allow: (1) MercadoLibre sellers in Brazil and Mexico to accept money from 300 million PayPal customers in about 200 countries via MercadoLibre’s Mercado Pago service; (2) PayPal merchants to accept payments from 48 million Mercado Pago users in Brazil and Mexico; and
MICROCAPITAL BRIEF: IDB Commits $250m Credit Line to FND of Mexico for Rural Development
The Inter-American Development Bank (IDB), a US-based multilateral finance institution that operates in Latin America and the Caribbean, recently committed USD 250 million in loan funding for rural Mexico. IDB is opening the credit line
MICROCAPITAL BRIEF: Invest In Visions’ IIV Mikrofinanzfonds Lends $49m to Microfinance Institutions in Ecuador, Egypt, Indonesia, Kazakhstan, Kosovo, Kyrgyzstan, Mexico and Timor-Leste – Including $10m to MFI Alternativa 19 del Sur
Germany-based Invest In Visions (IIV) recently loaned USD 10 million to Alternativa 19 del Sur, a microfinance institution (MFI) in Mexico. The investment is one of a group of loans totaling
MICROFINANCE EVENT: Fintech and Insurtech Innovator Summit (FINNOSUMMIT) for Innovation on Financial Services in Latin America; September 10-13, 2019; Mexico City
This eighth iteration of this event offers speakers, panels and workshops related to financial technology (fintech) and insurance technology (insurtech), as well as access to two startup competitions. Session topics include
MICROFINANCE EVENT: Opportunity Collaboration; October 13-18, 2019; Cancun, Mexico
This is the 10th annual iteration of this networking event, which is dedicated to fostering relationships among social entrepreneurs, nonprofit leaders and funders. The proceedings include
MICROCAPITAL BRIEF: Oikocredit Buys $3.3m in Equity in Laudex, Education Lender in Mexico
The Netherlands’ Oikocredit recently paid USD 3.3 million to purchase an equity stake of unspecified size in Laudex, a lender to low- and moderate-income Mexican students pursuing undergraduate and graduate degrees around the world. The institution has an “online approval platform” and a “risk-based pricing model” with a maximum annual interest rate of 29.5
MICROCAPITAL BRIEF: Fintechs QPagos, Suretly Launching Mobile “Crowdvouching” Loan Service in Mexico; Guarantors Offered Commissions up to 25% per Month
QPagos, a US-based electronic payment services provider, and Suretly, a US-based “crowdvouching” platform, recently announced that their joint venture, Suretly Mexico, is about to begin facilitating loans of up to USD 200 to people with “thin” or no credit histories by connecting them with loan guarantors. These guarantors, who can sign up using the Suretly app, can cover up to 10 percent of the loans. The loans in Mexico will be disbursed primarily via Sociedades Financieras de Objeto Múltiple (SOFOMs),
MICROCAPITAL BRIEF: Capria Investing $61m in Adobe Capital of Mexico, Fen Ventures of Chile After Raising $100m to Provide Finance, Networking Support to SME Funds
Capria Ventures, a US-based provider of financial and non-financial support to funders of “small and mid-sized social ventures,” recently completed its second funding round, raising USD 100 million. Capria also recently invested in Mexico-based