Konfío Seeks Banking License to Boost SME Credit Services

– Konfío plans to apply for a banking license from the National Banking and Securities Commission (CNBV).
– The move is part of a strategic plan to offer comprehensive financial services including deposit accounts.
– Since 2014, Konfío has supported over 75,000 businesses, now pursuing greater scale and integration.

Mexican fintech Konfío, valued as a unicorn since 2021 with a market value exceeding $1 billion, announced its intent to apply for a banking license to operate more comprehensively within the financial sector. This step is aimed at accelerating its growth in credit provision to small and medium-sized enterprises (SMEs), which form the core of its client base. The application to the CNBV marks a pivotal move in the company’s strategic plan to enhance service offerings to include both corporate and personal deposit accounts.

In its statement, Konfío emphasized the expanded capabilities a banking license would afford, allowing them to serve a larger scale and provide more integrated services. The firm has been operational since 2014 and has notably contributed to the growth of over 75,000 businesses throughout Mexico. By transitioning into a bank, Konfío aims to further leverage its position in the market, addressing the evolving financial needs of its customers more effectively.