SoftBank leads $125 million round in Latin America's AlphaCredit

SoftBank leads $125 million round in Latin America's AlphaCredit

SoftBank has led a $125 million equity financing round in Latin America small business lender AlphaCredit.

AlphaCredit provides fast, cheap credit lines to individuals and small companies via a programmed deduction system.

Operating in the Mexican and Colombian markets, the company has granted over $1 billion in loans to small business clients underserved by traditional banks or without access to other forms of financing.

Augusto Álvarez, co-founder and Co-CEO of AlphaCredit, comments: "Cutting edge technology and strong financial backing have allowed us to grow exponentially while promoting the economic development of a greater number of people that have limited access to credit."

Other international venture capital funds along with a group of its existing investors have joined with Softbank in this Series B round.

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