KLYM, a Colombian fintech that focuses on providing working capital to SMEs has announced it raised US$27m in a funding round led by JP Morgan Chase and International Finance Corporation (IFC). The fintech, formerly known as OmniLatam, plans to use the new capital to expand in Brazil, Chile, and Colombia and to start up in Mexico.
“Cross-border supply chain finance is a capability very few fintechs have because it’s very expensive to build a bank in Europe or in the U.S. to do this,” KLYM Co-Founder and CEO Diego Caicedo told Bloomberg.
