RIO DE JANEIRO, BRAZIL – After seven years of operations in the country, fintech RapiCredit is moving forward in its expansion process and has begun talks with a business group to operate in Caribbean markets such as the Dominican Republic, as well as a Brazilian business group with the goal of offering its portfolio of services in the southern giant.
“The company has proven that it is competitive enough to enter new markets. In Colombia, the results are really satisfactory: we are the fifth-largest credit intermediary in the country and we have doubled the number of loans in less than a year. These are the reasons why foreign markets are interested in us,” said Daniel Materón, CEO of RapiCredit.
This year, the company expects to issue nearly 880,000 loans with a total value of US$250 billion. In addition, the company has received US$3 million from a Japanese fund to be used as working capital.
According to a report by Latamfintech Hub, Latin American fintechs raised US$1,294 million in 2021 in nearly 90 deals, of which US$862 million was working capital and US$431 million was debt.
With information from La republica