Latin America's biggest crowdlending platform, Cumplo, has started to attract institutional investors in home market Chile.
Founded in 2012, SME-focused Cumplo has handled almost US$600mn in invoice-backed, short-term loans, mostly for working capital, since it opened its doors. The company also operates in Mexico and is expanding into Peru and the US.
This year in Chile, Cumplo expects to finance US$220-250m through the platform
After starting off with retail investors, Cumplo is now attracting life insurers in Chile, who are investing in SME receivables via two funds. One fund was created exclusively for Cumplo and holds US$50m.
“We're really connecting the source of funds with the use of funds, that’s a big, big game,” Cumplo CEO Gonzalo Kirberg told BNamericas.