Crediclub, one of the Mexico’s fastest-growing lending platforms, recently announced that several leading global private equity investors have joined as co-investors in the company’s recently announced partnership with L Catterton, the largest global consumer-focused private equity firm. Several of Crediclub’s current investors also participated in the US USD80 million round.
Collectively, the investment will help accelerate Crediclub’s growth and support its mission to provide all Mexicans with access to greater and more affordable financial products. This partnership provides Crediclub with significant growth capital and harnesses the combined expertise of multiple leading global investors to expand Crediclub’s product offering in Mexico, drive customer acquisition, enhance technological capabilities, and accelerate brand awareness. The new co-investors, which are investing as part of L Catterton’s original equity commitment include IFC, Sarona and other international players.
“We have developed a strong and productive partnership with L Catterton and are thrilled that they leveraged their broad relationships across the globe to support our continued growth,” said Juan Francisco Fernández, CEO and co-founder of Crediclub. “These new investors bring additional expertise as we enhance the capabilities that make Crediclub such a powerful alternative to traditional banks.”
Crediclub continues to invest in technology to improve the customer relationship experience for both its lending and deposit products. The company recently launched several new technological initiatives to expand its suite of simple and easy-to-use lending products, including Crédito Express Productivo and a digitally-driven offering in Small and Medium Enterprises (SMEs) lending and investment services.
“We are incredibly passionate about Crediclub’s outstanding growth potential serving the underbanked population in Mexico – and about its performance, which is unmatched when compared to other financial disruptors in the region,” said Ramiro Lauzan, a Partner in L Catterton’s Latin America Fund. “We are very pleased to be joined on this opportunity by some of our most prominent and loyal investors, who share our conviction in Crediclub as a driving force of financial inclusion in Mexico.”
