R2 secures $50m debt facility and $9m in equity funding for expansion in Latin America
12/03/24, 6:19 AM
Location
mexico cityMoney
$59 million
Industry
lending
fintech
finance
financial services
Type
partnership
Mexican fintech start-up R2 has secured a $50 million debt facility from Community Investment Management (CIM) along with $9 million in fresh equity funding. The company plans to use the debt facility for expansion in Chile and the equity funding to invest in computing power for AI-based models and to accelerate product development initiatives to integrate more platforms.
Company Info
Location
mexico city, cdmx, mexico
Additional Info
Founded in 2020, R2 enables payment processors, POS systems and marketplaces to provide financing to small and medium businesses in Latin America. Via its API, R2 provides an end-to-end lending experience to technology platforms so that they provide capital to businesses without taking on any risk. R2 works with some of Latin America's leading technology companies and is backed by General Catalyst, Gradient Ventures, Y Combinator, 166 2nd, Femsa Ventures, among others.