Syscap Closes USD $2.3 Million Round to Transform Private Credit in Mexico

With funding led by Wollef and other investors, Mexican fintech Syscap plans to use the capital injection to optimize its platform that democratizes access to non-bank financing.
Syscap-Mexico-Fintech Syscap-Mexico-Fintech

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Syscap, a fintech startup, has closed an initial funding round of USD $2.3 million to expand its private credit infrastructure in Mexico.

Founded by David Noel Ramírez and Alejandro O’Farrill, Syscap was designed as a platform to enable non-bank lenders to efficiently manage and access private credit lines, offering a centralized point for communication, monitoring, and reporting.

Before joining forces to launch Syscap, Ramírez and O’Farrill met while working at FEMSA, a multinational beverage and retail company. Subsequently, Ramírez co-founded Concéntrico, while O’Farrill worked at Amazon and Nubank. Syscap CEO Ramírez told TechCrunch that traditional credit line management is done through outdated banking software or manually, using spreadsheets and emails.

This funding announcement comes at a time when the private credit market is experiencing unprecedented growth. Assets under management nearly tripled between 2011 and 2022, and are expected to reach USD $23.3 trillion by 2027. This boom has encouraged the emergence of a group of startups across Latin America looking to address the lack of transparency and efficiency in financing management. Examples of these companies include Kanastra in Brazil, Finley, Percent and Setpoint in the United States, and Vass in Colombia.

“Our vision with Syscap is to create a platform that provides democratized access to private credit, not just for non-bank financial institutions but also for all stakeholders, such as lenders, insurers, borrowers, and investors,” added Ramírez.

Currently, Syscap serves more than 100 non-bank financial institutions in Mexico, providing short-term financing alternatives. Wollef led the USD $2.3 million funding round, with participation from Redwood Ventures, Melek Capital, 500 Global, Angel Hub Ventures, and a group of angel investors. The company plans to use the raised capital for technology and product development.

The State of Fintech Q2 report from CB Insights highlights that fintech companies in Latin America and the Caribbean raised USD $500 million, a 150% increase from the previous quarter, strengthening the viability of digital business models in the financial sector.


Moreover, according to Aspects Software, the customer interaction solutions market was valued at USD $15.52 billion in 2020 and is expected to grow to USD $30.92 billion in 2026. In this context, organizations are increasingly adopting SaaS solutions, representing a significant increase compared to previous years.

SaaS market expectations to 2026.
SaaS market expectations to 2026. (Source: Mordor Intelligence)

With these favorable winds and the new funding, Syscap positions itself as a key player in transforming the private credit landscape in Mexico and potentially throughout Latin America

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