Oikocredit expands its commitment to Mexican SMEs with investment in Aspiria
Social impact investor Oikocredit has acquired a minority stake in Aspiria, an online SME lender in Mexico
Amersfoort, the Netherlands and Guadalajara, Mexico – Aspiria, a digital lender targeting underbanked small and medium enterprises (SMEs) in Mexico, has completed its Series A funding round with participation from social impact investor and worldwide cooperative Oikocredit.
The Series A closing also saw follow-on investments from Aspiria’s current shareholders. The proceeds from the capital round will strengthen Aspiria’s financial capability to support Mexican SMEs.
With its investment in Aspiria, Oikocredit continues its commitment to support SMEs in Latin America, as Oikocredit sees SMEs as playing an important role in areas such as job creation.
Aspiria began operations in 2015 and has provided thousands of loans throughout Mexico. The institution has leveraged digital technologies, data analytics and high-quality service to support the financial needs of Mexican SMEs.
Guillermo Hernandez, CEO and co-founder of Aspiria, commented: “At Aspiria we are very excited to have Oikocredit on board. SMEs have faced big challenges due to the pandemic and are in need of healthy financial services.
“Oikocredit’s investment is an acknowledgement of the tremendous potential of the Mexican SME sector. We look forward to continuing to serve a multitude of SMEs and helping create thousands of jobs in the country.”
Rodrigo Villalta, Equity Officer at Oikocredit, said: “At Oikocredit, we are proud to become shareholders of Aspiria, an institution whose mission is to provide financial support to SMEs that have been typically excluded from the formal financial system.
“Mexican SMEs are key contributors to employment generation and economic development. We are happy that we can contribute towards building stronger social impact in the country by supporting access to the formal financial system for Mexican SMEs.
Aspiria works to increase access to capital for small businesses. Through our platform and the use of statistical credit origination models, we make it fast and simple for small business owners who have been shunned by the traditional banking system to obtain financing to continue growing their business.
For more information see: www.aspiria.mx
Social impact investor and worldwide cooperative Oikocredit has 45 years of experience funding organisations active in financial inclusion, agriculture and renewable energy.
Oikocredit’s loans, equity investments and capacity building aim to enable people on low incomes in Africa, Asia and Latin America to improve their living standards sustainably.
Oikocredit finances close to 700 partners, with total outstanding capital of € 856 million (as at 30 September 2020). For more information see: www.oikocredit.coop.
Note for editors
For more information or to request an interview, please contact Jasmin Panjeta, Communications Business Partner, Oikocredit International, telephone: +31 33 422 4040, email: firstname.lastname@example.org.
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