Mexican lendtech start-up Konfio bags $100m investment led by SoftBank
Konfio, a Latin American online lending platform for micro-businesses, has bagged a $100 million investment in its fourth financing round led by SoftBank just three months after securing another $100 million from Goldman Sachs.
The Mexican start-up is now one of the most heavily funded fintechs in the country according to TechCrunch.
As well as Mexico, the Japanese conglomerate has also been spreading its $5 billion Latin America fund across Brazil, where it’s invested in e-commerce software provider VTEX, and Argentina, where it’s invested in money manager Ualá.
It seems SoftBank is very interested in getting its hands on as much Latin America’s consumer data as possible.
With a lack of major established players in the micro-business space, Konfio is taking advantage of the gap to deliver Latin Americans “affordable loans” quickly by using a “a propriety algorithm” which calculates creditworthiness.
Other investors in Konfio’s most recent $100 million funding round include Credit Karma-backer QED Investors, Latin America-foucused capital fund Kaszek Ventures and Bermuda-based Vostok Emerging Finance.