Investment bank Goldman Sachs co-led a $42m series B round for Mexico-based business finance provider Credijusto yesterday through its Principal Strategic Investments unit.
Venture capital firm Point72 Ventures co-led the round, which included Thomvest Ventures, Wolfson Group, Third Lake Capital, Argo Ventures, Kaszek Ventures, QED Investors, Broadhaven Capital Partners, Supernode Ventures and private investor John J. Mack.
Founded in 2015, Credijusto provides equipment leases and asset-backed debt financing for small and medium-sized businesses in Mexico, utilising data science to make its loan decisions.
The company is looking to provide an alternative for Mexican businesses which often find it difficult to access loans from banks through a long-winded process that results in high interest rates.
Goldman Sachs invested having provided a credit facility for Credijusto in March this year that is sized at up to $100m.
The company had raised an undisclosed amount from VC firm Elevar Equity in 2016 and added $10m in a June 2018 series A round co-led by Kaszek Ventures and QED Investors that also featured Ignia.
Victory Park Capital, City Hall Capital, Fourth Green Capital, Uprising Venture Fund, Flatiron Investors and M4Fund were all identified by the company as existing backers in 2016, but it has not revealed details of their investments.
