Mexican online lending startup raises US$1.8m

Don’t worry, we’re talking about:
Spanish (Spanish)also!

context – The fintech startup,, just landed a US$1.8 million bridge led by VARIV Capital, alongside Redwood Ventures, Tonk Capital and former angel investors.

The company – previously backed by Angel Ventures – was set to raise a subsequent round in order to scale its operations, roll out new products and venture into balance sheet lending services.

How does Yotepresto work? is an interesting and sustainable template designed to connect people’s financial goals.

Operating as an online market platform, it connects people looking for credit with people willing to lend their money in order to obtain attractive returns. This model is also known as crowdlending.

By directly connecting creditors and debtors online, as well as eliminating traditional banking operational costs, is able to reduce certain margins and commissions, compared to many banking institutions.

With crowdfunding money, debtors have the opportunity to reduce payment interest and creditors to earn an above average interest rate.

Microcreditors can choose to whom and how much money they will lend – starting from 10 USD (about 200.00 MXN) -.

While debtors have access to a wide range of people willing to lend them money for a specific purpose. This way, they can fund their loans from multiple creditors.

Costs. But how are they doing so far?

Well, not too bad. Pretty awesome, honestly.

About 98% of debtors repay their loans on time.

Over 500,000 registered users.

Processed over MXN$270 million in loans.

The interest rate for accounts receivable starts at 8.7%.

Average annual rate of 17% for creditors.

Although investing always involves a degree of risk, proves its effectiveness through its carefully designed credit profiling methods and procedures.

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David A. Albanese