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The Mexican unicorn Konfío, a fintech that offers credit and financial solutions to small and medium-sized enterprises, has received a $ 10 million loan to bolster its proposals for SMEs in financially excluded communities.
The funding is part of the Scaling Enterprises project, a partnership between Citi, Ford Foundation and DFC Corporation to support local currency companies that expand access to products and services to low-income communities and emerging markets.
The news was announced by Citibanamex in a press release, explaining that the funds will be used to finance SMEs in the southern states of Mexico and that at least half of the funds will be used to lend to women entrepreneurs. In the document, the Ford Foundation expressed its satisfaction with the support of Konfío’s work and the fact that this loan is focused on traditionally underserved communities.
You may also be interested in: Konfío is the new Mexican unicorn, valued at $ 1.3 billion
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