PE firm PC Capital made an undisclosed follow-on investment in Mexican microfinance Te Creemos.
(Press Release) Mexico City, Mexico, December 10, 2018 – PC Capital Management, SC (“PC Capital”) announced today an additional investment in Te Creemos Holding, SAPI de CV (“Te Creemos”) to fund Te Creemos’ acquisition of 100% of Consejo de Asistencia al Microemprendedor, SA de CV, SFP (“CAME”). With this acquisition, Te Creemos has position itself as the undisputed largest private microfinance company in Mexico specializing in working capital loans with an approximate loan portfolio of $5 billion Pesos and 450 branches as of September of this year.
With this transaction, Te Creemos, through its brands: Te Creemos and CAME, has doubled its active clients to more than 730 thousand and increased its work force to approximately 9,000 employees in 31 of the 32 states in Mexico.
“Micro-entrepreneurs are one of the main growth drivers of the Mexican economy, this transaction is not only a great transaction for Te Creemos, but also for the growth of the Mexican economy. We are very proud of the successes achieved by the Te Creemos team and feel privileged to have had the opportunity to accompany them in this recent acquisition”, said Pablo Coballasi, Managing Partner of PC Capital.