The AltScore, financial technology company specialized in B2B lending infrastructure, announced today a fundraising of R$47 million in a Series A round. The investment was led by the American Haymaker Ventures, with significant participation 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 clients such as Coca-Cola and Arcor, visa to expand its presence in the Brazilian market and in other countries in Latin America
Andrés Perez, CEO and co-founder of AltScore, explained the company's value proposition: "Our solution allows 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, that should become your second most relevant market. Perez highlighted the country's potential: "Brazil has more than one-fifth of the approximately 10 million small retailers in the region, in addition to a large pool of IT talent.”
A Kamay Ventures, Venture Capital fund supported by companies like Coca-Cola, Arcor Group and Bimbo, see AltScore as a strategic investment. Antonio Peña, Managing Partner of Kamay Ventures, commented: "We see in the fintech a great potential to stand out in the local scene by offering a disruptive solution capable of accelerating value generation in businesses 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) made in May. The company plans to use the new capital to expand its operations, enhance your technology and penetrate more deeply into Latin American markets, with a special focus on Brazil
The investment in AltScore reflects the growing confidence of investors in fintech solutions aimed at the B2B market in Latin America, especially those that facilitate access to credit for small and medium enterprises
