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Peruvian Fintech Prestamype raised US$2M to improve access to credit

September 13, 2022
Por
BID - Banco Interamericano de Desarrollo
BID - Banco Interamericano de Desarrollo
Eventos que reúnen a expertos del BID y líderes de opinión.
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Bloomberg
The $2 million loan will favor the financial inclusion of businesses that traditionally face problems with access to credit.
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IDB Lab, the innovation laboratory of the Inter-American Development Bank (IDB), will finance the fintech Prestamype with $2 million to improve access to credit for micro and small enterprises in Peru. The loan will drive the financial inclusion of a spectrum of underserved businesses that, in many cases, lack the credit history or level of formality needed to access financing.


Prestamype offers a financing solution that combines mortgage guarantees with technology to optimize the process. This allows the fintech to lend micro and small businesses more significant amounts than those provided by the market, at lower interest rates than traditional financing and with shorter times for the approval and disbursement of the loan. Its clients, 43% of which are women, are primarily engaged in services, commerce, leasing, manufacturing, and construction and mainly request loans for the purchase of merchandise, raw materials, and machinery or to support the construction or remodeling of their business.



IDB Lab’s loan will allow the Peruvian fintech to increase its supply of financing, strengthen its lending capacity, improve loan conditions, and increase the number of companies that receive a first formal loan. Likewise, it will expand its geographical coverage by beginning to serve small and medium-sized enterprises outside Lima.



“When we put technology at the service of inclusion, we advance the development of our region. Facilitating access to finance for micro and small businesses in Peru by leveraging innovation and entrepreneurship favors the sustainable and inclusive growth we seek at IDB Lab for Latin America and the Caribbean. Moreover, this type of initiative allows for the reactivation of the productive sector embodied as a priority objective in the Vision 2025 mandate of the Inter-American Development Bank,” said Irene Arias Hofman, CEO of IDB Lab.



About IDB Lab



IDB Lab is the innovation laboratory of the IDB Group, the primary source of financing and knowledge for development, focused on improving lives in Latin America and the Caribbean (LAC). The purpose of IDB Lab is to drive innovation for inclusion in the region, mobilizing financing, knowledge, and connections to co-create solutions capable of transforming the lives of vulnerable populations due to economic, social, or environmental conditions. Since 1993, IDB Lab has approved more than $2 billion in projects developed in 26 LAC countries, including investments in more than 90 venture capital funds. www.bidlab.org

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.

IDB Lab, the innovation laboratory of the Inter-American Development Bank (IDB), will finance the fintech Prestamype with $2 million to improve access to credit for micro and small enterprises in Peru. The loan will drive the financial inclusion of a spectrum of underserved businesses that, in many cases, lack the credit history or level of formality needed to access financing.


Prestamype offers a financing solution that combines mortgage guarantees with technology to optimize the process. This allows the fintech to lend micro and small businesses more significant amounts than those provided by the market, at lower interest rates than traditional financing and with shorter times for the approval and disbursement of the loan. Its clients, 43% of which are women, are primarily engaged in services, commerce, leasing, manufacturing, and construction and mainly request loans for the purchase of merchandise, raw materials, and machinery or to support the construction or remodeling of their business.



IDB Lab’s loan will allow the Peruvian fintech to increase its supply of financing, strengthen its lending capacity, improve loan conditions, and increase the number of companies that receive a first formal loan. Likewise, it will expand its geographical coverage by beginning to serve small and medium-sized enterprises outside Lima.



“When we put technology at the service of inclusion, we advance the development of our region. Facilitating access to finance for micro and small businesses in Peru by leveraging innovation and entrepreneurship favors the sustainable and inclusive growth we seek at IDB Lab for Latin America and the Caribbean. Moreover, this type of initiative allows for the reactivation of the productive sector embodied as a priority objective in the Vision 2025 mandate of the Inter-American Development Bank,” said Irene Arias Hofman, CEO of IDB Lab.



About IDB Lab



IDB Lab is the innovation laboratory of the IDB Group, the primary source of financing and knowledge for development, focused on improving lives in Latin America and the Caribbean (LAC). The purpose of IDB Lab is to drive innovation for inclusion in the region, mobilizing financing, knowledge, and connections to co-create solutions capable of transforming the lives of vulnerable populations due to economic, social, or environmental conditions. Since 1993, IDB Lab has approved more than $2 billion in projects developed in 26 LAC countries, including investments in more than 90 venture capital funds. www.bidlab.org

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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País de origen:
Headquarters:
Lima
Monto inversión:
5
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Ronda financiación:
Series A
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