kubo.financiero, a Mexican peer-to-peer lending platform, raised $7.5m in Series A funding.
The round was led by Bamboo Finance with participation from Endeavor Catalyst, Monex Grupo Financiero, KuE Capital, Tanant Capital, Javier Molinar, Alta Ventures Mexico Fund I, Capital Invent, Vander Capital, Wayra and other ecisting investors.
The company will use the funds to continue to expand operations.
Led by Vicente Fenoll, founder and CEO, kubo.financiero is a p2p platform that integrates technology and data to provide loans to borrowers in Mexico. Ranging from US$400 to $4.1k, these 4 to 36 month long loans can be used for working capital, fixed assets, education fees and supplies, and pre-payment for other loans.
Since 2012, over 4,700 loans totalling $35m have been provided via the platform from 500 individual investors.