December 20

Kredito Banks $6 Million as the Latin American Business Lender Eyes International Expansion

By Christine Hall

Over a year after grabbing $4 million in pre-seed funding, Chile-based Kredito, a business lending startup, is back with another $6 million in new funding.

The company launched to the public in 2021 and partners with financial institutions to help small businesses with their spend management, access digital unsecured loans, open a bank account and obtain a business credit card.

When we profiled Kredito last year, Sebastian Robles, co-founder and CEO, told TechCrunch that business credit didn’t automatically come with an account, leaving business owners to use personal credit cards.

“Everyone wants to sell online, so e-commerce capabilities are key,” he told TechCrunch recently. “Most of our customers are moving online, but what’s happened is that banks are more restricted with their products, making it harder for the unbanked or the underbanked to access decent financial services or sometimes even a bank account.”

Photo courtesy of Erik (HASH) Hersman.

Source: TechCrunch (link opens in a new window)

digital payments, e-commerce, financial inclusion, fintech, MSMEs