Nelo Reveives $100 Million Credit Facility From Victory Park Capital

Nelo

Victory Park Capital, a global alternative investment firm specializing in private credit, provided a $100 million credit facility to Nelo, a consumer payments platform for online purchases in Mexico.

The funding from VPC will enable the company to execute its plans for continued expansion.

Led by CEO Kyle Miller, Nelo recently launched an all-in-one app that enables customers to pay in installments at any online merchant, through a partnership with Mastercard. The app allows users to finance everyday necessities like utility bills, cellular plans, and other e-commerce purchases. The platform has powered more than 3M purchases to-date and the company employs 36 people, representing citizenship of eight different countries.

Consumers can use Nelo to pay for purchases at thousands of stores including Walmart, Mercado Libre, Telcel, Amazon, and more.

FinSMEs

20/10/2022