Mexican fintech Konfío obtains US $100 million from Goldman Sachs
Source：Goldman Sachs
From：Taiwan Trade Center Mexico
Update Time：2019/10/23
Goldman Sachs once again bets on a Latin American startup of financial technology, providing a secured credit of up to US$100 million to the Mexican Konfío.
The transaction will help Konfío, which provides uninsured working capital to small and medium enterprises, to lend approximately US$250 million over the next 12 months, explained David Arana, Executive Director and founder of financial technology.
The plan is to expand to the use of guarantees, with which it would be possible to make loans larger than the current average of US $20,000 of Konfío.
"We met Goldman at several financial technology events in Latin America and we started the conversations," Arana said. "I think they are the right partners to help us continue to create an impact.
Konfío uses its technology to analyze credit behavior and collect other types of data, allowing it to respond to companies immediately and make disbursements within 24 hours when traditional loans to small and medium businesses can take months to approve and require collateral.
In addition, Konfío's interest rates are half those of the traditional banking industry, according to Arana.
The technology also helps startup keep bad-performing loans under control. The delinquency rate in the company's lending book was 4.8% in 2018, compared to 5.4 % for the banking industry, according to Arana.
Source：https://www.goldmansachs.com/