Mexico City, October 10, 2017. The International
Finance Corporation (IFC), member of the World Bank Group, announced that
Konfío, the leading online lending platform for small businesses in Mexico,
has successfully raised USD$10 million in a second round of financing.
IFC led this Series B round with USD$3.5 million and included the following
Series A investors: QED Investors, Kaszek Ventures, Quona Capital and Jaguar
Ventures. IFC will help Konfío grow future partnerships and mobilize further
capital for more MSMEs throughout Mexico.
“Our Fintech team focuses on technology-driven innovation in financial
infrastructure, products, services, and their distribution. By 2017 we
had invested over $300 million in equity and debt in early- and growth-stage
FinTech companies around the globe," said Kai Schmitz, who leads IFC’s
Fintech investments in Latin America.
Konfío is changing the financial ecosystem with working capital loans geared
towards MSMEs. Through its online platform, Konfío processes thousands
of data points from the MSMEs using big data analytics, and approves loans
in real-time, allowing each applicant to save 2 months on average, compared
to a brick and mortar process. Konfío also offers more competitive pricing
than other unsecured products such as credit cards in Mexico, because of
their ability to accurately do credit scoring for this market, and because
they don’t require an entire team of credit analysts and branches in order
to approve a loan. This makes it possible for underserved businesses –
even those without any formal credit history – to benefit from the formal
economy and get capital to boost their business.
“This new round of investment will be used to further improve Konfío’s
product and user
experience, and allow us to offer working capital to many more promising
businesses throughout the country. We expect to accelerate growth, and
have an even stronger positive impact on our clients and the local economy
as a whole. This is a great example of how the private sector can have
an important contribution in helping small businesses. Thanks to the loans
originated to date, more than 50,000 families have been positively impacted,”
said David Arana, Founder and CEO of Konfío.
Konfío launched its first product version in 2014; a term-loan with fixed
installments and maximum loan amount of USD $50,000. With a growing client
base of thousands of small businesses, Konfío is positioning itself as
the leading MSME lending platform, addressing an estimated market of USD
Along with more than 2,000 companies worldwide, IFC uses its capital, experience
and influence to create opportunities where they are most needed. In fiscal
year 2017, IFC's long-term investments in developing countries amounted
to $ 19.3 billion, helping the private sector play a vital role in the
global effort to end extreme poverty and increase shared prosperity.
Konfío is the leading online lending platform for small businesses in Mexico
that uses data for rapid credit assessment, allowing owners to focus on
what’s important – growing their business. Their mission is to boost
the regional economy with working capital loans for promising small businesses.
IFC, a member of the World Bank Group, is the leading international development
institution dedicated exclusively to the private sector in developing countries.
IFC is also a leader in mobilizing third-party resources to fund its projects.
Their willingness to work in difficult environments and their leadership
to attract private funding allow them to increase their influence and generate
a development impact far beyond of what their direct resources allow. For
more information please visit