Colombian fintech Finkargo raises $75M in debt financing to support MSMEs in LatAm
Colombian fintech startup, Finkargo has announced a $75 million structured debt financing to accelerate the growth of more than 600 SMEs in the country over the next year.
- Founded in 2021 by Andres Ferrer, Santiago Molina, Tomas Shuk, Finkargo is a fintech platform that provides financing for micro small and medium-sized enterprises to trade internationally. Finkargo also helps small and medium-sized companies grow their operations using logistical and technological support.
- Finkargo claims its clients have increased the value of their operations by 62% YoY, and have diversified their supply chain, increasing by 27% the number of suppliers they work with.
- Today, more than 25% of Finkargo's clients are already enhancing global value chains, increasing their competitiveness by importing inputs and raw materials necessary to produce value-added goods that re-enter the global market through exports.
- Prior to this financing, Finkargo had closed a $7.5 million seed round in April, in which Quona, Flybridge, Maya Capital, and One VC participated. This latest financing brings the total amount raised by the startup to $77.5 million.
- The credit facility was provided by Community Investment Management (CIM), an impact investment fund that provides financing to ventures that seek to contribute to the financial inclusion of entrepreneurs and citizens in emerging markets.
