Contxto – Financial assistance for Colombian SMEs to the rescue; online lending platform Sempli recently closed a Series A round worth US$8 million led by Oikocredit and Incofin CVSO.
For Sébastien Rigaud from Oikocredit, the manner in which Sempli has promoted financial inclusion is worthy of recognition.
“We are impressed by Sempli’s growth and excellent results and look forward to continuing to support its successful team with this follow-on investment,” said Rigaud. “Sempli is solving a real financing gap faced by thousands of Colombian SMEs.”
The company has set clear social impact objectives, has received the B-Corp certification, and is embracing the Smart Campaign’s Client Protection Principles promoting responsible financial inclusion. We’re very pleased that Sempli continues to be well aligned with Oikocredit’s focus on social impact.
Sébastien Rigaud from Oikocredit
Old and new investors alike also joined this hefty early-stage investment round. Some of these included IDB LAB (The Inter-American Development Bank), XPT1 Fund, Generación Exponencial, Impulsum Ventures, in addition to others.
According to Finance Colombia, the deal also entailed additional loan facilities. Funds will go towards expanding its portfolio as well as advancing its technology and data analytics.
Ever since Sempli began in 2017, it has gone on to raise more than US$24 million in equity with the aforementioned investors. Others have included Triple Jump, AlphaMundi and Bancoldex.
Digital lender for SMEs
Similar to other Latin American fintechs, Sempli came into existence to better-serve Colombian SMEs. For periods ranging from six months to three years, loan borrowers can receive between US$10,000 and US$100,000 through the fintech.
In hopes of curbing embedded inefficiencies and bureaucracy in Colombia, the automated solution permits the distribution of funds in less than 72 hours. With an intuitive interface, clients can save unprecedented amounts of time through Sempli. Loans requests reportedly take less than five minutes.
Much of this revolves around the fintech’s proprietary risk assessment methodology, allowing for rapid analysis and approval.
Colombian SMEs
In terms of lending, Colombia is Latin America’s third-largest market for small business loans. Reports also say that there are over 1 million Colombian companies in need of liquidity to effectively grow their enterprises.
From the perspective of Sempli’s founders, their platform could be the disruptive solution that Colombian entrepreneurs have been waiting for. Steadily, it’s assisting in the fortification of Colombia’s under-served middle class. Not only do the fintech’s services have an economic impact, but a social one as well.
“Our purpose and dream is to transform and disrupt the banking industry and become the number one digital option for small businesses in Colombia looking for a loan,” said co-founders Esteban Velasco and Felipe Llano in a joint statement.
“We strongly believe that technology and data will drive our growth, and partnering with knowledgeable financial investors such as Oikocredit, Incofin CVSO and BID LAB gives us the confidence to build on our position as a solid balance sheet lender that will positively impact the growth of thousands of small businesses in our country.”
-JA
