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Colombian Insurtech R5 obtains US$ 1M from AlphaMundi Group for its purpose of increasing financial inclusion in Colombia

January 20, 2022
Por
R5 Newsroom
R5 Newsroom
Noticias y comunicados de la Fintech R5
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AlphaMundi Group, through its SocialAlpha Investment Fund (SAIF), has provided a USD 1M senior loan to R5, an online lender and insurance policy retailer that offers mandatory vehicle accident policies (SOAT) and asset-backed loans to the underserved population in Colombia.
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Social Alpha’s loan will support R5 in its mission of increasing financial inclusion towards under served population in Colombia, by allowing R5 to increase its credit portfolio and help low and mid-income population access affordable loans.

Jose Lozano, Investment Manager at AlphaMundi, said: “

We are excited to start this newrelationship with R5, a company with an innovative business model in the insurance and lendingindustry in Colombia, and a well-prepared and socially responsible team. R5 has embedded inthe core of its business mission to increase financial inclusion and improve the financial health ofits clients by offering affordable asset-backed loans to people that need to refinance loans, solveworking capital constraints, invest in their businesses, cover health expenses, among otherneeds. With our financing, we are confident that R5 will be able to consolidate its position as aleading company in the lending industry in Colombia, improving financial inclusion and tacklingthe problem of expensive and informal lenders in the country.”

About R5

Founded in 2018, R5 is a Colombian online insurance retailer, selling mandatory vehicle insurance(SOAT). Since 2019, R5 has expanded its business into the asset-backed micro-credit lending. R5has achieved product-market fit within underserved segments of the population, mainly low to middle income people who own a vehicle and want a cheap, reliable and easy way to purchase mandatory insurance policy, or need a loan but are not served by traditional financial institutions(or are struggling with informal and expensive loans). Since 2018, R5 has sold more than 1Mvehicle policies to 700K clients. Thanks to the discounts offered to SOAT clients, R5 has generated over USD 5M in SOAT policy savings to low to mid income clients. On the loan business model side, R5 has disbursed asset backed loans worth over USD 4M mostly to unattended subprime/near prime customers.

About AlphaMundi Group Ltd

AlphaMundi Group was created in 2008 as a Swiss advisory group dedicated to impact investing.Its mission is to provide market-based solutions to the world’s most pressing challenges,currently best defined by the Sustainable Development Goals. Since 2009, AlphaMundi has profit ably invested USD 45M in 40 impact ventures in Latin America and Africa, primarily through the firm’s Social Alpha impact fund and related co-investments, across 120 venture debt and equity transactions, with an impact on more than 5 million beneficiaries, the vast majority in rural areas and some 40% of women. Alpha Mundi also contributes to sustainable development through the Alpha Mundi Foundation,which facilitates technical assistance and impact measurement for impact ventures, sponsors educational events, publications, and industry associations, and promotes renewable energy solutions in rural areas, and the Gender Lens agenda across the Group’s pipeline and portfolio companies.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y de ellas son responsables sus autores. No reflejan ni comprometen el pensamiento u opinión de Latam Fintech Hub, por lo cual no pueden ser interpretadas como recomendaciones emitidas por la platafomra. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista sobre el ecosistema Fintech.

Social Alpha’s loan will support R5 in its mission of increasing financial inclusion towards under served population in Colombia, by allowing R5 to increase its credit portfolio and help low and mid-income population access affordable loans.

Jose Lozano, Investment Manager at AlphaMundi, said: “

We are excited to start this newrelationship with R5, a company with an innovative business model in the insurance and lendingindustry in Colombia, and a well-prepared and socially responsible team. R5 has embedded inthe core of its business mission to increase financial inclusion and improve the financial health ofits clients by offering affordable asset-backed loans to people that need to refinance loans, solveworking capital constraints, invest in their businesses, cover health expenses, among otherneeds. With our financing, we are confident that R5 will be able to consolidate its position as aleading company in the lending industry in Colombia, improving financial inclusion and tacklingthe problem of expensive and informal lenders in the country.”

About R5

Founded in 2018, R5 is a Colombian online insurance retailer, selling mandatory vehicle insurance(SOAT). Since 2019, R5 has expanded its business into the asset-backed micro-credit lending. R5has achieved product-market fit within underserved segments of the population, mainly low to middle income people who own a vehicle and want a cheap, reliable and easy way to purchase mandatory insurance policy, or need a loan but are not served by traditional financial institutions(or are struggling with informal and expensive loans). Since 2018, R5 has sold more than 1Mvehicle policies to 700K clients. Thanks to the discounts offered to SOAT clients, R5 has generated over USD 5M in SOAT policy savings to low to mid income clients. On the loan business model side, R5 has disbursed asset backed loans worth over USD 4M mostly to unattended subprime/near prime customers.

About AlphaMundi Group Ltd

AlphaMundi Group was created in 2008 as a Swiss advisory group dedicated to impact investing.Its mission is to provide market-based solutions to the world’s most pressing challenges,currently best defined by the Sustainable Development Goals. Since 2009, AlphaMundi has profit ably invested USD 45M in 40 impact ventures in Latin America and Africa, primarily through the firm’s Social Alpha impact fund and related co-investments, across 120 venture debt and equity transactions, with an impact on more than 5 million beneficiaries, the vast majority in rural areas and some 40% of women. Alpha Mundi also contributes to sustainable development through the Alpha Mundi Foundation,which facilitates technical assistance and impact measurement for impact ventures, sponsors educational events, publications, and industry associations, and promotes renewable energy solutions in rural areas, and the Gender Lens agenda across the Group’s pipeline and portfolio companies.

Las opiniones compartidas y expresadas por los analistas son libres e independientes, y solamente sus autores son responsables de ellas. No reflejan ni comprometen el pensamiento o la opinión del equipo de Latam Fintech Hub y, por lo tanto, no pueden interpretarse como recomendaciones emitidas por la plataforma. Esta plataforma es un espacio abierto para promover la diversidad de puntos de vista en el ecosistema Fintech.

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