MEXICO CITY,MEXICO-SEPTEMBER 14,2016: Aerial view of mexico city downtown skyscrappers at sunset time before night.
Creation Investments, a Chicago-based fund with a track record of investing in financial companies in emerging markets, announced a US$25 million investment in DD360, a technology platform for financing and managing residential real estate in Mexico. The U.S. firm has offices in India and Mexico, where it has previously invested in the financial company Te Creemos.
In a press release, Creation revealed that DD360 has raised approximately US$91 million in capital to date and that the Mexican company will use this new financing to support the growth of its loans and the development of its platform’s products.
Amadeo Ibarra, Creation’s Mexico Country Manager, said, “We are thrilled to invest in a business that aligns with our thesis of high growth and profitability, while addressing numerous impact themes such as access to housing and job creation.”
For his part, DD360 CEO and co-founder Jorge Combe said he was pleased to bring Creation Investments on board as a shareholder. “With these resources, we will continue to expand our team and balance sheet while addressing the enormous deficit of housing in Mexico.”
In the same press release, DD360 is presented as a profitable company since its inception, managing a loan portfolio of more than US$230 million and having financed 120 real estate projects in Mexico.
Main image: Adobe Stock
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