MICROCAPITAL BRIEF: Fintech Credijusto Secures $100m in Debt Financing from Credit Suisse for Online Lending to SMEs in Mexico

Mexican financial technology (fintech) firm Credijusto recently borrowed USD 100 million from Credit Suisse, a Switzerland-based financial firm, to help Credijusto become “better equipped to help close the financial gap for SMEs [small and medium-sized enterprises]”. Founded in 2015 and based in Mexico City, Credijusto offers collateral-based loans ranging in size from MXN 200,000 (USD 8,200) to MXN 30 million (USD 1.25 million). Annual interest rates range from 26 percent to 35 percent, with payback periods of one to four years. Since its inception, Credijusto has lent USD 120 million to 25,000 SMEs, and it employs 300 people as of 2020. Its equity investors include Elevar Equity, Goldman Sachs and Point72 Ventures.

As of 2019, the Credit Suisse Group managed assets valued at CHF 787 trillion (USD 807 trillion), generating net revenue of CHF 22.4 billion (USD 23.0 billion) for the fiscal year.

By Ng Chee Meng, Research Associate

Sources and Additional Resources

Credijusto press release
https://blog.credijusto.com/noticias/prensa/noticias-credijusto-asegura-financiamiento-por-100-millones-de-dolares/

New York Times article
https://www.nytimes.com/reuters/2020/03/23/world/americas/23reuters-mexico-startups-exclusive.html

Yahoo finance article
https://finance.yahoo.com/news/mexican-sme-lender-credijusto-secures-161400538.html

Credijusto homepage
https://credijusto.com/

Credit Suisse annual reports
https://www.credit-suisse.com/about-us/en/reports-research/annual-reports.html

Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at http://www.microcapital.org/products-page/.