The Konfio transaction marks the latest bet Goldman Sachs is making on the hotbed of Latin American fintechs:
Bloomberg. The credit line will help the startup, which provides small-and medium-sized businesses with unsecured working capital, to lend around $250 million in the next year, founder and CEO David Arana told Bloomberg.Currently, Konfio's average loan size is about $20,000, and it plans to expand this by using guarantees or collateral. Beyond loans, the company also provides SMBs with technology aimed at helping them better understand their businesses, according to Arana.
Konfio is able to address Mexico's lending problem in a variety of ways, all by leveraging technology. For instance, by using technology to analyze credit behavior and other types of data, Konfio can make loans available in as little as 24 hours.
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