Destacame, a Santiago, Chile-based alternative credit scoring startup, closed a seed round of financing of undisclosed amount.
The round was led by Accion Venture Lab, with participation from Mountain Nazca and Chilean angel investors.
The company intends to use the funds to expand its services within Chile and into Mexico in 2017.
Founded by Sebastian Ugarte, Augusto Ruiz-Tagle and Jorge Camus, Destacame is an alternative credit scoring platform that uses alternative data – such as utilities payment transactions – to assess an individual’s creditworthiness. The proprietary algorithm synthesizes this customer data to generate an alternative credit score that can be provided to financial institutions to extend credit and other financial products to thin-file and credit-invisible customers.
Launched in Chile in August 2015, the platform currently has +170,000 users and has processed +10,000 credit applications.
The company currently has 15 employees and offices in Chile and Mexico.