Creze Provides Loans to SMEs Without Access to Formal Credit in Mexico | Photo: Creze
Creze, a leading platform in loans for small and medium-sized enterprises (SMEs), has taken a significant step in its growth by securing a line of credit of up to USD $5.7 million from BBVA Spark, the bank’s division dedicated to fostering high-impact companies. The fintech, led by Juan Ahedo and Bernardo Prum, has stood out in the Mexican market by granting over 114 million dollars in loans through more than 5,000 operations, using a fully digital platform that integrates artificial intelligence and an innovative risk assessment model.
This additional funding from BBVA Spark will enable Creze to expand its reach and support for Mexican SMEs, which are vital to the country’s economy. According to federal government data, these businesses generate approximately 72% of jobs in Mexico and contribute more than half of the Gross Domestic Product (GDP). However, they face a significant challenge in terms of financing, as only 10% manage to obtain formal credit from banks.
With the new line of credit from BBVA Spark, Creze can enhance its capacity to offer praises to thousands of additional SMEs, directly impacting the lives of about 10,000 Mexicans. “This partnership with one of the country’s most important and innovative banks represents a huge opportunity to promote an entrepreneurial ecosystem with greater growth potential,” expressed Juan Ahedo, excited about collaborating with BBVA Spark.
Joe Naffah Mahuad, Head of BBVA Spark in Latin America, also acknowledged Creze’s significant role in supporting Mexican SMEs towards stability and growth. BBVA Spark is committed to fostering innovation and business growth, focusing on high-impact companies with scalable, technology-based business models. To date, it has supported companies in countries such as Spain, Mexico, Colombia, and Argentina, with a portfolio of more than 800 clients and approximately 200 million euros in financing.
With this significant injection of funds and strategic alliance with BBVA Spark, Creze positions itself as a key player in strengthening the SME sector in Mexico, offering tailored and accessible financial solutions to boost its growth and development in the market.
The financial services market has experienced significant growth in the field of information technology, not only increasing the value and volume of digital transactions but also the number of users in this sector. According to Statista’s research department, in 2022, Mexico had approximately 64 million users of fintech services for digital payments. This growth is also reflected in other areas of the fintech sector, such as digital investments and resources, which have seen an increase in their user base. Mexico stands out as one of the leaders in Fintech in Latin America, both in terms of the number of users and companies in this sector, in a trend that is expected to continue to rise.
