For the first time ever (in September 2019), giant Wall Street investment bank Goldman Sachs’ (NYSE:GS) structured finance division provided a $100 million secured credit facility to Mexico-based Fintech startup Konfio Ltd.
[CEO:] ” “Thanks to data and advanced technology, we are able to identify businesses with potential that deserve to be supported in these difficult conditions.”
Konfío’s management noted that they’ve introduced what they consider to be more inclusive human resources (HR) guidelines. They’ve also reportedly reviewed and updated their gender equality work policies.
[Konfío:] “Konfío will be the first Fintech in Mexico to develop a market strategy based on gender.”
Sachs:]: “Konfio brings a unique approach to credit underwriting for a segment of the market that’s poorly served in Mexico and more broadly across the region.”
Konfio’s proprietary technology monitors and analyzes credit behavior and gathers other types of data for research purposes. The company’s data analytics tools allow it to respond to clients in a timely manner and make disbursements within 24 hours. Traditional loans to SMBs can take months to approve, and require guarantees and collateral.