Small and medium enterprises (SMEs) form the backbone of the Mexican economy. These enterprises generate most of the jobs in the country, help diversify the market’s economic base, promote innovation and help deliver goods and services to the bottom of the pyramid. Yet despite all these social and economic benefits, Mexican SMEs are perennially underfunded, facing significant challenges in accessing appropriate finance for growth. Mexican banks reject over 80% of all loan applications from these SMEs, which make up 99% of all companies in the country. Those few that are able to tap financing from Mexican banks often need to wait an average of three months to get an answer, experience little transparency, and encounter notoriously poor customer service.
Allan Apoj and David Poritz founded Credijusto in 2015 in order to disrupt this market inefficiency. Credijusto promotes financial inclusion via the provision of affordable asset backed loans to Mexican SMEs. The company is very customer centric, emphasizing customer service and transparency in all its processes while leveraging technology, data, analytics and robust internal processes for efficient decision-making and product structuring. Credijusto currently offers three products, secured term loans, secured credit lines and equipment leases.
PG Impact Investments’ debt investment will support Credijusto’s geographic expansion across Mexico, expansion of its existing term loan and equipment leasing products and unlock additional capital raises from other institutional investors.
Urs Baumann, CEO and co-founder of PG Impact Investments, comments: “As a leading financial technology company focused on providing asset-backed financial services to Mexican SMEs, Credijusto is well positioned to capitalize on a large underpenetrated and underserved market.”
David Poritz, Co-CEO and co-founder of Credijusto comments: “As we continue to scale our lending operations and support the growth of Mexican small businesses, we are excited to partner with PG Impact Investments, a firm that shares similar values to Credijusto – with a dual focus on creating financial returns and positive social and environmental impact globally.”
About PG Impact Investments
PG Impact Investments was founded in 2015 with the vision that private investment, innovation and entrepreneurial talent can provide solutions to the challenges faced by our society, as well as create sustainable growth. PG Impact Investments is a private sector, mission-driven, global investment firm specializing in investment solutions aimed at delivering financial returns as well as creating a positive social and/or environmental impact. It manages investment strategies for an international clientele of professional investors who are seeking investment solutions that offer market-rate returns, while also helping to address pressing social or environmental challenges. All profits from the business activities of PG Impact Investments are transferred to PG Impact Investments Foundation. The Foundation supports social initiatives and social businesses ventures that otherwise would not receive funding through commercial investors or investment funds. Whilst being independent from Partners Group, PG Impact Investments entities are backed by Partners Group and its employees, and benefit from the global infrastructure, investment know-how and specialist resources of this leading global private markets investment manager.
About Credijusto
Founded in 2015, Credijusto is a financial technology company focused on lending to the underserved and rapidly growing SME market in Mexico – via products that are superior in price, speed of delivery and quality of customer experience. The company uses a combination of cutting edge software design, innovative applications of data science and advanced internal processes for decision-making and product structuring. Credijusto seeks to become the leading multi-product financial services provider for Mexican SMEs.
PG Impact Investments contact
info@pg-impact.com
Credijusto contact
https://www.credijusto.com/January 17th, 2019|Uncategorized