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ALIVE Invests in Peruvian Fintech Prestamype to Empower Underserved Small and Micro Businesses


Prestamype logo

Lima, August 2023 – Prestamype, the largest digital financial services platform for micro and small enterprises in Peru, announced the closing of a US$5 million Pre-Series A investment round, led by social impact investors Acumen Latam Impact Ventures (ALIVE) and Oikocredit, with the participation of Salkantay Ventures – Peru’s largest Venture Capital fund – as well as Inca Ventures, AVP, and other angel investors. This is the largest Pre-Series A equity round ever raised by a Fintech in Peru.


Built with the mission of unlocking new sources of financing to underserved and underbanked micro and small companies (MSEs) in Peru, Prestamype leverages technology to deliver an ecosystem of financial products to such companies. MSEs traditionally face significant barriers when trying to access credit, and Prestamype helps overcome those barriers by offering easier access, faster processes, competitive rates, and flexible payment schedules compared to traditional banking solutions.


Today, Prestamype is providing financial services to more than 4,000 active clients with a multi-sectoral approach. In the first semester of this year, the company has disbursed US$ 43 million to entrepreneurs and plans to close 2023 with more than US$ 110 million.


Laure Schlesinger and Carlos Ferreyros, the company’s co-founders, form a strong team with varied experience across responsible finance, digital products and technology, which has enabled them to create an innovative financial company that is impacting the Peruvian business ecosystem.


"We decided to open this round in order to continue consolidating ourselves as the leader of the MSE segment in Peru and impact more entrepreneurs with our financing options (mortgage loans and factoring) and related services (currency exchange and electronic invoicing), because there is a significative financial gap for micro and small businesses that still needs to be addressed. It represents a huge market opportunity if we approach it in an innovative and efficient way through technology”, explained Carlos Ferreyros, CEO and co-founder of Prestamype.


“Our short-term objective is to develop diversified sources to fund our loan and factoring portfolio, especially with institutional debt lines from abroad couple with capital market instruments accessible to Peruvian investors of different scales. In the medium term, we aim to become the first digital bank for MSEs in Peru”, added Laure Schlesinger, COO and co-founder of the company.


Since its founding in 2017, the company has sought to improve the financial inclusion of businesses that have been historically underserved by the financial services sector, largely due to low levels of formality or because they lack the credit history traditionally needed to access financing of more than USD 5,000 at a reasonable cost. Currently, 80%+ of Prestamype’s clients are MSEs, of which more than half were previously excluded financially – meaning they had no credit history or only had access to revolving consumer credits at predatory rates. Women account for over 43% of Prestamype’s clients.


“We are very proud to be partnering with Prestamype and support the catalytic work the company is doing by supporting the growth of MSEs across Peru. Lack of access to funding is the main reason why 50%+ of MSEs fail during the first five years, which has direct consequences in the development of the country as they employ almost two thirds of the national labor force”, said Maria Pia Morante, Investment Director at ALIVE Ventures, who will be joining Prestamype’s Board of Directors.


“Actively promoting financial inclusion among the underserved population in emerging markets is one of Oikocredit´s main objectives, and we found a great alternative in continuing to do so through Prestamype’s solutions. We are very excited to contribute to the Peruvian fintech community and the MSE entrepreneurial ecosystem by partnering with Prestamype under Carlos and Laure’s leadership, it is the first fintech company in our global portfolio led by a female co-founder”, said Harold Calderón, Equity Officer at Oikocredit, who will also be joining Prestamype’s Board of Directors.


 

About Prestamype:

Prestamype is the largest lending Fintech for micro and small enterprises (MSEs) in Peru. Its main product is an asset-backed working capital loan, launched in March 2017. Over time, Prestamype has developed an ecosystem of financial and technological products to support those underserved businesses, including B2B payments financing, an electronic invoicing and sales management SaaS, and an online foreign exchange solution. For more information: www.prestamype.com.


About ALIVE Ventures:

Acumen Latam Impact Ventures – ALIVE – is a new type of Latin American fund manager. A manager that places impact at centerstage. A manager that incorporates gender lens investing every step of the way. A manager that has built a climate smart investment approach to support communities prepare for, respond to, and recover from the effects of climate change. And finally, but equally important, a fund manager that seeks to provide attractive risk-adjusted returns to its investors. For more information: www.alive-ventures.com.


About Oikocredit:

Social impact investor and worldwide cooperative Oikocredit has nearly five decades 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 more than 500 partners, with total outstanding capital of € 1,010.6 million (at March 2023). For more information: www.oikocredit.coop.


About Salkantay

Salkantay is a regional investment firm that was created with the purpose of supporting innovative and resilient entrepreneurs who seek to improve the lives of people in Latin America through the use of technology. The fund invests in Spanish-speaking Latin America, in early-stage and scaling-up companies. For more information: www.salkantay.vc

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