FinMaq announces $23.5m in equity and debt financing
The Colombian equipment-financing company combines $3.5m in equity with $20m in debt to support domestic growth and regional expansion.
FinMaq announced a $23.5 million financing package on June 16, 2023, comprising $3.5 million in equity and $20 million in debt. The company said the funding would support growth in Colombia and expansion into Chile, Peru and Mexico.
The Colombian fintech finances productive assets for individuals and small businesses, including customers with limited access to conventional banking. Its equipment-financing customers operate in construction, healthcare, manufacturing and other industries.
FinMaq uses a digital application to give applicants a preapproval, approval or rejection response within five minutes. The company reported positive net income in 2023 as it expanded its lending business.
Use of funds
Grow equipment financing in Colombia
Expand to Chile, Peru and Mexico