Mexican Fintech Ximple Raises $2.7M to Launch Credit Platform

Startup aims to boost financial inclusion by enabling direct sellers to offer credit services to underbanked customers in Mexico.

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Ximple, a digital credit distribution company, has secured $2.7 million in funding to launch and expand its innovative platform in Mexico. The funding round included notable investors such as BoostCapital Partners, Clocktower Technology Ventures, Graph Ventures, 99 Startups, and Lotux.VC.

Founded in early 2024 by Daniel Sujo, Rodrigo Aparicio, Juan Pablo Salem, and Joao Ramos, Ximple focuses on promoting financial inclusion. The company’s platform allows direct sellers, called “Aliados,” to offer credit to their customers, leveraging social knowledge to provide better financial solutions.

Mexico’s financial landscape shows significant room for improvement, with over 42% of adults lacking access to basic banking services. Ximple aims to address this issue by disrupting the financial services ecosystem and providing accessible credit solutions to the underbanked population.

The Ximple platform enables Aliados to grow their core distribution business using digital tools and working capital lines. Additionally, they can increase their income through loan distribution. This model targets the approximately 320 million people in Latin America who currently lack access to credit.

Daniel Sujo, CEO and co-founder of Ximple, expressed pride in the product launch and the substantial investor support received. The company’s goal is to provide accessible credit solutions to over 300 million Latin Americans currently excluded from traditional financial services.

Ximple plans to use the funds to introduce disruptive products in the Mexican market, aiming to improve financial inclusion rates, which remain low despite the rapid growth of fintech companies in Mexico over the past five years.

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