Progreso Financiero Receives Strategic Investment from Core Innovation Capital

Progreso Financiero, a Menlo Park, CA-based responsible financial services company, has received a strategic investment from Core Innovation Capital.

The amount of the transaction was not disclosed.

The company intends to use the funding to scale its operations.

Founded in 2005 and led by Raul Vazquez, CEO, Progreso Financiero provides with loans without collateral to America‚Äôs underserved Hispanic clients who lack credit history by using its risk-scoring system that emphasizes a client’s true capacity to afford it. To date, the company has made more than 350,000 loans through more than 70 locations across California and Texas.

FinSMEs

05/10/2012

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