International Finance Corporation and Venture Impact Investor Elevar Equity Co-Lead Round to Fuel Growth and Expansion in Argentina, Peru, Mexico, Colombia and Brazil.
Afluenta, the leading Latin America peer-to-peer lending network that brings together investors and creditworthy borrowers, announces today the completion of its Series B funding round from the International Finance Corporation (IFC), the private-sector institution of the World Bank Group, and Elevar Equity, a leading impact venture capital firm.
Johanna Posada Gil, Co-Founder at Elevar Equity – a leading investment fund which backed Afluenta with $4 million dollars – described the company as “uniquely positioned to lead the emerging class of innovative FinTech companies in Latin America.”
“Already a leader in Argentina, Afluenta will expand marketplace lending to multiple countries in the region and disrupt traditional models for loans and investments, making these services more accessible and affordable to millions of people,” she added.
On the same page was Salem Rohana, Country Manager in Argentina, Chile, Paraguay and Uruguay at IFC, which also invested $4 million dollars in the company. “Afluenta has built a world-class technology and solid track record in the challenging Latin American economies to demonstrate that the peer-to-peer business model works and effectively delivers value to both borrowers and lenders.
“This $4 million investment in Afluenta reflects IFC’s interest in supporting innovative business models in the region to improve access to finance for companies and individuals,” he said.
Afluenta plans to use the proceeds of the Series B financing for accelerating its network expansion plan across Latin America. Launched in Argentina in 2012 and in Peru in 2015, Afluenta aims at reaching Mexico, Colombia and Brazil in the next 12 months to consolidate its position as the first pan-regional player of this new and disruptive alternative financing.
“We are grateful to Elevar Equity and IFC for their support and commitment to Afluenta’s growth and success,” said Alejandro Cosentino, Founder and CEO of Afluenta. “This Series B world class investors give us valuable resources to further develop our evolving technology, develop new products, offer much better service to our customer base and expand our reach to a whole new segment of potential customers.”