Mexican fintech Prestanómico raises US$300,000 from Latinia as part of Series A

Contxto – In case you missed it, fintech is progressively on the rise in Latin America. One of the most promising fintechs revolutionizing credits is Prestanómico.

Recently, it managed to transform itself from an alternative bank to a startup using a “Lending as a Service” model.

Let the Series A round commence

Earlier this month, this Mexican startup raised US$300,000 of its Series A round with contributions from Latinia. Within this financial software development company’s portfolio are prominent consumer, commercial and services partners. 

From the tone of coverage, Latinia was impressed with Prestanómico’s ability to collaborate with traditional banks. 

“Prestanómico has an innovative model that promises to accelerate the digital transformation of large institutions, from financial institutions to commercial chains, which seek to improve their technological offer of consumer credit,” said Oriol Ros, Global Marketing Director of Latinia.

In recent news, Prestanómico recently aligned itself in two strategic alliances with two Mexican financial bodies, Monte de Piedad and Banregio. With Monte de Piedad, the fintech will specifically provide its lending service to the company.

This way, this institution can offer personal loans using Prestanómico’s analysis technology. The only difference will be Monte de Piedad using its own brand as well as resources. 

In a similar arrangement, Banregio will also work with Prestanómico for portfolio transfer agreements. This will allow Prestanómico to garner more business resources to grow while Banregio will analyze the third party’s technology. 

“Credit as a service is an effective, profitable model with an agile start-up that allows customers to focus on growing their business by taking advantage of cutting-edge technologies developed by third parties.”

The bigger picture 

This contribution from Latinia is a small portion of the company’s US$3 million Series A goal. The new capital will go towards expanding the franchise and continuing technological development. Companies like Prestanómico can lend capital to borrowers overs it agile, efficient and reliable digital platform. 

“As an international company that serves the main banks in Latin America, Latinia knows the potential of advanced technology services for financial institutions,” said Guillermo Gómez del Campo, CEO of Prestanómico. 

“With the credit model as a Prestanómico service, any company can offer loans to its clients in an agile way with the highest standards of reliability and security. This investment allows us to continue with our accelerated growth and continue leading the digital transformation of consumer credit.” 

Previously, Prestanómico has acquired some prestigious awards. Temenos, a leading global banking tech firm, appointed the company with “The Best of Banking Award” alongside HSBC, BNP Paribas, in addition to Standard Charter. 

Startupbootcamp and Finnovista have also selected Prestanómico as one of the best fintechs in Latin America in the scaling stage. It is also part of the second generation of Startupbootcamp Scale FinTech program in Mexico City.

-JA