Mexico’s thriving FinTech sector has opened new avenues for SMEs seeking financing to fuel their growth. Digital lending platforms have become popular for SMEs in Mexico to secure funding quickly and efficiently. These platforms offer an alternative to traditional bank loans, often with strict eligibility criteria and lengthy approval processes.

Digital lending platforms use technology to accelerate the lending process, offering SMEs faster and more flexible financing services. Here are 3 Digital lending platforms to look out for:

Covalto

Covalto, established in 2015 with its headquarters in Mexico City, is a digital banking and services platform for small and medium-sized firms. The company gained a one-stop solution for SMEs by combining a multi-product credit offering, financial services and a full suite of business analytics tools.

Konfío

Konfio is an online lending platform for small and medium-sized enterprises in Mexico. The company was set up in 2013 by David Arana and Francisco Padilla and is headquartered in Mexico City. It assists businesses in achieving economic success through access to credit solutions with a proprietary algorithm that combines technology with data to measure creditworthiness in minutes.

 Nubank

Nubank, founded in 2013, is a digital banking platform leveraging proprietary technologies and innovative business practices to provide convenient, intuitive, and simple financial solutions and experiences for individuals and SMEs.