AltScore, a Mexico-based fintech startup that is building a B2B lending infrastructure, raised $3.5M in Seed funding.
The round was led by Far Out VC, with participation from Caffeinated Capital, Techstars, Unpopular Ventures, Kamay Ventures, BuenTrip Ventures, Lorimer Ventures, CompuSoluciones Ventures, Miguel Fernández, Uri Tintore, Tommy Nicholas, and Ivan Montoya.
The company intends to use the funds to continue developing its end-to-end Lending-as-a-Service (LaaS) solution to help its B2B partners embed and deploy credit products while giving MSMBs fair and timely access to liquidity in LatAm, adding modules such as Smart Collections, Loan Management, and Embedded Lending.
AltScore started operating in Ecuador in January 2021 with the vision of providing fair and efficient access to credit for underrepresented borrowers. The company now offers LaaS APIs providing underwriting, alternative data and scores, and other lending modules. With AltScore, businesses increase customer retention and LTV by embedding and deploying credit products. Existing lenders can also leverage any of AltScore’s lending modules.
The company has clients in South, Central, and North America.
FinSMEs
12/12/2022