(L Catterton) Crediclub, one of Mexico’s fastest-growing lending platforms, announced today that it has entered into a binding agreement to partner with L Catterton, the largest global consumer-focused private equity firm. Under the terms of the agreement, L Catterton Latin America will acquire a significant minority stake to support the company in its mission to provide all Mexicans access to better and more affordable financial products.
The new partnership provides Crediclub with significant growth capital and expertise from L Catterton to expand its product offering in Mexico, invest in customer acquisition, enhance technological capabilities, and accelerate brand awareness. The investment comes at a time of rapid change for a category in which technology adoption and digitalization are allowing for further inclusion through innovative and low-cost products and services.
Founded in 2005 by an entrepreneurial team in Monterrey, Crediclub has become one of the most prominent non-bank financial institutions in the country. To date, the company has disbursed more than $2 billion in loans and offers a fully digital investment product which is revolutionizing the way Mexicans manage and grow their savings.
“With the development of innovative financial services tailored to the needs of the underbanked Mexican consumer, Crediclub has become a powerful alternative to traditional banks,” said Juan Francisco Fernández, CEO and co-founder of Crediclub. “Our partnership with L Catterton will allow us to significantly grow and scale our business further, while preserving the quality and customer experience that set us apart.”