AltScore, a financial technology company specializing in B2B lending infrastructure, today announced a fundraising of R$47 million in a Series A round. The investment was led by American Haymaker Ventures, with significant stakes from several venture capital firms, including Kamay Ventures, which contributed approximately R$3.5 million.
Founded in 2021 in Ecuador, AltScore offers a Lending-as-a-Service (LaaS) platform that uses APIs and Artificial Intelligence to facilitate the launch of digital credit products.The company, which already has large customers such as Coca-Cola and Arcor, aims to expand its presence in the Brazilian market and in other Latin American countries.
Andres Perez, CEO and co-founder of AltScore, explained the company's value proposition: “Our solution enables a business to become a B2B credit fintech in a few weeks, overcoming traditional barriers of cost and complexity
With the new features, AltScore plans to strengthen its position in Brazil, which is expected to become its second most relevant market. Perez highlighted the country's potential: “O Brazil has more than one fifth of the approximately 10 million small retailers in the region, as well as a large pool of IT talent.”
Kamay Ventures, a Venture Capital fund supported by companies such as Coca-Cola, Arcor Group and Bimbo, sees AltScore as a strategic investment. Antonio Pena, Managing Partner of Kamay Ventures, commented: “We see in fintech a great potential to stand out in the local scenario by offering a disruptive solution capable of accelerating the generation of business value through access to credit.”
This is AltScore's second round of investments in 2024, following a seed round of US$3.5 million (approximately R$19 million) held in May.
The investment in AltScore reflects the growing investor confidence in fintech solutions aimed at the B2B market in Latin America, especially those that facilitate access to credit for small and medium-sized companies.
