Afluenta, a Latin America peer-to-peer lending network that brings together investors and creditworthy borrowers, completed an $8m Series B funding.
Backers included International Finance Corporation (IFC), the private sector institution of the World Bank Group, and Elevar Equity, an impact venture capital firm, which invested $4m each.
The company intends to use the funds to accelerate its network expansion plan across Latin America, launching new services in Mexico, Colombia and Brazil in the next 12 months.
Led by Alejandro Cosentino, Founder and CEO, Afluenta is a peer-to-peer lending company uses proprietary technology to allow borrowers to apply for a loan, facilitating access to financing.
Launched in Argentina in 2012 and in Peru in 2015, the company is backed by private equity investors and was incubated by NXTP Labs part of Global Accelerator Network (GAN).