Cumplo finances over US$3m in Mexico a year after opening its first office abroad

PRESS RELEASE from Cumplo (please note that this is a machine translation of the original release, which is in Spanish)

March 15, 2019

At the beginning of 2018, the Cumplo collaborative financing platform began operating in Mexico, with the aim of continuing to expand throughout Latin America and, although good results were expected, they have surprised us in a very positive way.

As of today, the platform has financed more than US $ 3 million in the Aztec country and expects to continue growing exponentially. In fact, it is expected that in the coming months the Small and Medium Enterprises (SMEs) of this market can be financed through the platform in more than US $ 30 million.

According to Gonzalo Kirberg, CEO of Cumplo, the good results are due to the fact that SMEs in the region have similar financing needs. In addition, on the part of the investors, the executive explains that the youngest ones want to obtain good rates of return. "They are the ones that seek to invest with impact, they like to be able to control their investments and to be 100% digital," he says.

The team of Cumplo Mexico, formed by 20 people, has managed to finance more than 210 loans with an uncollectibility of 0%, allowing more than 200 investors to be part of the largest crowdfunding network in the region.

Mexico has its regulation for the Fintech sector, which establishes the requirements for the creation and exploitation of businesses based on financial technology. In that sense, the CEO assures that "the Fintech industry represents a key opportunity to contribute to the development and competitiveness of the economies in Latin America".

I have ambitious goals and clear objectives in the region. In this regard, it is expected by the end of the year to open operations in the United States, having financed more than US $ 780 million in its history throughout the region, and by 2020 to have its fourth country operating, thus financing more than US $ 1 billion. and connecting more than 500 thousand SMEs with at least 1 million investors through its network.

About Cumplo

It is a collaborative financing platform that allows SMEs that need capital to grow to connect with people or institutions that want to invest their capital and obtain profitability.