Dila Capital and Mountain Nazca led a MXN$18m in Creze, a Mexican financial service company for SMEs. The company also closed a round of financing for MXN$50m led by Credito Real and Fourthgreen.
(Press Release) Creze, a financial service company for SMEs, closed a 18 million pesos round of investment led by DILA Capital Funds and Mountain Nazca. The company closed as well a round of financing for 50 million pesos led by Credito Real and Fourthgreen.
Creze is a disruptive online loan platform that uses the technology to access data from multiple sources to optimize the risk assessment process, through an algorithm. The company focuses on decreasing the existing funding gap for SMEs in Mexico, estimated at 60 billion dollars, according to the World Bank. Currently, banks and financial institutions offer products for SMEs whose requirements are difficult to meet and for those that meet the requirements, the process is extremely rigid, and can extend up to 3 months. Creze offers working capital products via a 100% on line application, with response and access to finance in 48 hours.
“We are convinced of the need for access to capital for SMEs in Mexico and the impact that it will have Creze in growth for its clients. We are very impressed of the risk models, implementation capacity and the technology developed by the Creze team. We believe it can capitalize the opportunity in the market.” said Eduardo Clave, Managing Partner of DILA Capital.
The investment will be used to continue the accelerated growth of the company, primarily for the development of new technologies, marketing and positioning of the brand.