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SoftBank-Led Group to Invest $125 Million in AlphaCredit

Andrew Davis

(Bloomberg) -- A group of investors led by SoftBank’s Latin America Fund will invest $125 million in AlphaCredit, the Latin American financial technology platform said.

The investment will allow “AlphaCredit to consolidate its place as one of the leading financial technology platforms in Latin America, continue its expansion and leverage the competitive advantages of its proven and profitable business model,” the company said in a statement.

AlphaCredit provides credit lines to individuals and small companies that are often underserved by traditional banks and has lent more than $1 billion to clients in Mexico and Colombia.

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To contact the reporter on this story: Andrew Davis in London at abdavis@bloomberg.net

To contact the editors responsible for this story: Matthew G. Miller at mmiller144@bloomberg.net, James Amott, Sara Marley

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