Monday
September 2
2019

Goldman Sachs, Point72 and Others Invest $42 Million in Mexico’s Credijusto

Goldman Sachs Group Inc, Point72 Ventures and others invested $42 million in a Mexico-based online lender called Credijusto.com, the companies said on Thursday.

Founded in 2015, Credijusto has originated $90 million in loans and equipment leases to small businesses like dry cleaners and mechanics across Mexico, according to a statement from the company and investors.

This is the first time Goldman’s Principal Strategic Investments group and the venture capital arm of Steve Cohen’s investment firm Point72 have invested in Mexico’s fintech market, and it is a sign they see potential for growth.

Mexico has experienced a steady rise in startups aiming to use technology and mobile phones to sell financial services to poor and middle-class customers who do not use traditional banks.

Photo courtesy of PresidenciaRD.

Source: Reuters (link opens in a new window)

Categories
Finance, Technology
Tags
digital finance, financial inclusion, fintech, startups, venture capital