Credijusto, an SME lending platform that is based in Mexico, announced on Thursday it secured $42 million through its Series B funding round, which was led by Point72 Ventures and Goldman Sachs with participation from Thomvest Ventures, Wolfson Group, Third Lake Capital and Argo Ventures, as well as existing investors Kaszek Ventures, QED Investors, Broadhaven Capital Partners, John J. Mackand Supernode Ventures. The latest round of funding comes less than six months after Credijusto closed a credit facility of up to $100 million with Goldman Sachs.
As previously reported, Credijusto now provides financial products and services to the SME segment, which forms the backbone of the Mexican economy. The online lender has sought to address the market inefficiencies largely present throughout the Mexican banking system and it promotes financial inclusion by providing affordable asset-backed loans and equipment leases.
Speaking about the investment, Pete Casella, Partner of Point72 Ventures, stated:
“Credijusto’s tech-enabled approach to meeting the financial needs of Mexico’s underserved SME segment has huge potential. This is a very large market opportunity in which, after four years of rapid growth, the company has significant competitive advantages. We have been impressed with the growth in the Mexican fintech space, and this investment reflects our belief in Credijusto’s ability to become the market leader in Mexico. We look forward to working with the company to help it achieve its ambitious goals,” added Don Butler, Managing Director of Thomvest Ventures.
Credijusto added it has established itself as a household name in Mexican fintech, having successfully launched multiple financial products and originated over $90 million in term loans and leases.