Mexican Fintech Tangelo announced that it made its first sanctioned credit disbursement of US$10.2M

July 22, 2022
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Tangelo announced that it made its first disbursement of sanctioned credit with DFC in 2020.

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This disbursement amounted to US$10,200,000 and features the following: 8-year quarterly amortization after a 2-year grace period and Tangelo’s accounts receivable is guaranteed.  The purpose of the loan is to finance SMEs in Mexico and support their economic development.  The favorable credit conditions of the loan allow the company to be more balance-sheet efficient by giving the company two years to use the remaining credit line, allowing the company to maintain healthy cash levels.  DFC approved a line of credit to Tangelo for US$45,000,000;  The company expects to utilize the remaining facility in the following quarters.

“The first disbursement with DFC reflects Tangelo’s ability to diversify its funding sources and attract resources at a time of market uncertainty, a clear milestone in the company’s funding strategy. We are looking at remaining credit lines in the following quarters.” Prioritize Tangelo’s long-term vision and strengthen the Company’s balance sheet. Abelardo Loscos, Tangelo’s Chief Financial and Sustainability Officer,  Additionally, he added that: “We are very proud to have made the first disbursement with one of the most prestigious institutions worldwide. DFC bases its approval decision on sustainability matters and financial strength, which underpin Tangelo’s business model. validates.”
“Small and medium-sized enterprises (SMEs) in Mexico drive much of the country’s economic development, yet they lack sufficient resources to grow their business,” he said. Jim Pollan, Vice President of DFC’s Office of Development Credit,  “DFC’s investment in Tangelo – formerly Maxerand – will help address this issue by promoting quality job creation, spurring innovation and empowering women in the economy.”

About DFC
The US International Development Finance Corporation (DFC) partners with the private sector to address the most critical challenges facing the developing world today.  We invest in all sectors, including energy, healthcare, critical infrastructure and technology.  DFC also provides financing for small businesses and women entrepreneurs to create jobs in emerging markets.  DFC Investments adheres to high standards and respects the environment, human rights and worker rights.

Tangelo.  about
Tangelo is a Latin American fintech company specializing in alternative lending and with over 25 years of experience developing bespoke credit solutions for consumers and SMEs in the region.  Through a proprietary technology platform and data driven model, Tangelo offers a diverse set of tailor-made products ranging from point-of-sale financing, supply chain financing, asset-based lending, credit scoring and end-to-end as a service. manages.  White label digital credit solution for multiple industries.

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.

This disbursement amounted to US$10,200,000 and features the following: 8-year quarterly amortization after a 2-year grace period and Tangelo’s accounts receivable is guaranteed.  The purpose of the loan is to finance SMEs in Mexico and support their economic development.  The favorable credit conditions of the loan allow the company to be more balance-sheet efficient by giving the company two years to use the remaining credit line, allowing the company to maintain healthy cash levels.  DFC approved a line of credit to Tangelo for US$45,000,000;  The company expects to utilize the remaining facility in the following quarters.

“The first disbursement with DFC reflects Tangelo’s ability to diversify its funding sources and attract resources at a time of market uncertainty, a clear milestone in the company’s funding strategy. We are looking at remaining credit lines in the following quarters.” Prioritize Tangelo’s long-term vision and strengthen the Company’s balance sheet. Abelardo Loscos, Tangelo’s Chief Financial and Sustainability Officer,  Additionally, he added that: “We are very proud to have made the first disbursement with one of the most prestigious institutions worldwide. DFC bases its approval decision on sustainability matters and financial strength, which underpin Tangelo’s business model. validates.”
“Small and medium-sized enterprises (SMEs) in Mexico drive much of the country’s economic development, yet they lack sufficient resources to grow their business,” he said. Jim Pollan, Vice President of DFC’s Office of Development Credit,  “DFC’s investment in Tangelo – formerly Maxerand – will help address this issue by promoting quality job creation, spurring innovation and empowering women in the economy.”

About DFC
The US International Development Finance Corporation (DFC) partners with the private sector to address the most critical challenges facing the developing world today.  We invest in all sectors, including energy, healthcare, critical infrastructure and technology.  DFC also provides financing for small businesses and women entrepreneurs to create jobs in emerging markets.  DFC Investments adheres to high standards and respects the environment, human rights and worker rights.

Tangelo.  about
Tangelo is a Latin American fintech company specializing in alternative lending and with over 25 years of experience developing bespoke credit solutions for consumers and SMEs in the region.  Through a proprietary technology platform and data driven model, Tangelo offers a diverse set of tailor-made products ranging from point-of-sale financing, supply chain financing, asset-based lending, credit scoring and end-to-end as a service. manages.  White label digital credit solution for multiple industries.

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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