The fintech provides loans and financial solutions to individuals and SMEs in Mexico and Colombia.

Unfazed by problems in the US and India, Softbank is not afraid to plow in big money into Latin American markets such as Mexico and Colombia, as evidenced by its investment in AlphaCredit.

The fundraising included investments from unspecified but leading international venture capital funds and existing investors. (Crunchbase)

AlphaCredit and the great unbanked

The fintech has, over eight years, lent over $1 billion in the Mexican and Colombian markets. Its mission: “To promote the economic development of a greater number of people that have limited access to credit.”

“We are committed to financial inclusion through innovation and technological development,” said José Luis Orozco, co-founder of AlphaCredit, in a statement. “We bring the best of both worlds to provide efficient access to credit and financial solutions to sectors underserved by traditional banking.”

AlphaCredit will utilize the funding to expand and exploit further the “competitive advantages of its proven and profitable business model.”

Paulo Passoni, the managing investment partner at SoftBank Group International, said AlphaCredit had a superior approach compared to its peers. He also said the firm was an awesome entrepreneur that was changing the fintech landscape.

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