Revolving credit facility · Fintech
Nexu closes MXN1.013bn revolving credit line with BBVA Spark
The Mexican automotive lender will use the facility to expand loan origination through partner dealerships.
BBVA Spark and Nexu have closed a MXN1.013 billion revolving credit facility to support automotive financing in Mexico. The agreement increases Nexu's lending capacity, with plans to finance more than 10,000 vehicles through its network of dealerships, distributors and automotive brands.
Nexu integrates its financing and leasing services into dealerships. Its credit-risk models use machine learning and artificial intelligence to assess applicants, complementing the financing options available to car buyers at the point of sale.
Use of funds
Automotive loan origination in Mexico
Funding history
Revolving credit facility · This roundMX$1B