image credit : Konfio

Konfio, A Mexican fintech company which makes online lending to small businesses has just raised $25 million in a Series C funding round led by Bermuda based VC Vostok Emerging Finance to expand its financial services and products in the Mexican region.

This brings the total amount the company has raised to a huge $102.7 million in addition to a debt financing round of 200 million Pesos it raised along with this Series C investment.

Konfio makes use of in-depth data which provides rapid credit assessment for small businesses which streamlines the loan application processes for these businesses while they focus on expanding their company and market operations.

In a recently outed press release, Vostok can be quoted as saying “We are excited to announce our latest portfolio investment and our first in Mexico. Konfio is an asset we have tracked for 2 years now and it represents a truly unique opportunity and a stand-out asset in Mexican SME credit space. We love scale opportunities, with clear traction and strong management teams and Konfio very much fits our investment mantra.

This clearly shows that the Mexico city based financial technology company which was founded 5 years ago to provide monetary services to businesses and is fixated towards scaling its services to other business sectors and increasing its revenues whilst the SMEs benefit greatly.

With this investment, Vostok is taking a seat on the board of the company which was started by MIT and Singularity University educated co-founder and CEO David Arana along with Francisco Padilla.

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