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Monet Colombia Secures $24 Million Investment to Expand Financial Inclusion
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Monet Colombia S.A.S., a fintech company specializing in short-term digital credit, has successfully closed a $24 million investment round. The funding includes a capital injection and structured financing of up to $18 million provided by a private equity fund managed by SixPoint Capital Management LLC.
Expanding Access to Credit in Colombia
This investment will enable Monet to strengthen its commitment to financial inclusion in Colombia by providing low-amount financing solutions. The company positions itself as a lasting choice to informal credit, addressing a important need in the Colombian market. Monet aims to place 3.5 million credits by 2026, significantly increasing its reach and impact.
The funding will also be used to strengthen Monet’s technological infrastructure, allowing it to scale its model nationwide. This includes optimizing risk assessment models and expanding coverage to more regions within Colombia.
The Role of SixPoint Capital Management
SixPoint Capital Management LLC, a private equity fund, is playing a crucial role in supporting Monet’s growth. Their investment demonstrates confidence in Monet’s business model and its potential to address the financial needs of underserved populations in Colombia. SixPoint focuses on investments in Latin America, and this deal aligns with their strategy of supporting innovative fintech companies.
Legal Counsel: Cuatrecasas
Cuatrecasas advised Monet Colombia on this investment round. Juan Carlos Puentes, a Finance partner at Cuatrecasas, highlighted the significance of the deal, stating, “Accompanying Monet in this process has been especially relevant, not only because of the sophistication of the financing, but because of its ability to expand access to formal credit and contribute tangibly to financial inclusion in Colombia.”
