Elevar Equity, a human centered venture capital firm, announced its investment in Credijusto, a financial technology startup providing convenient, transparent and affordable financing to the underserved small and medium enterprise (SME) market in Mexico. Elevar Equity III LP invested in a convertible note, the proceeds of which will be used to build out and scale Credijusto’s team and technology platform, grow the company’s loan portfolio, and expand geographically within Mexico. The company is planning to raise its Series A financing round in mid-2017.
Though SMEs account for over 98% of the economic units and 75% of employment in Mexico, they function in a challenging environment, underserved by traditional banks and subject to excessive interest rates from non-bank institutions. By enabling SMEs to secure affordable and timely financing, Credijusto helps these businesses grow, expanding access to employment for the majority of Mexicans whom they employ as well as enabling SMEs to access other formal sources of financing down the road.
In its second year of operations, Credijusto has quickly established a track record of strong growth and is backed by an impressive leadership team with clear vision and proven ability to attract seasoned talent. Elevar joins a group of institutional investors in Credijusto, including Victory Park Capital, City Hall Capital, Fourth Green Capital, Uprising Venture Fund, Flatiron Investors, M4Fund and other leading marketplace investors. Elevar’s investment in Credijusto is the firm’s fourth from Elevar Equity III in Latin America and 25th overall.
