Mexican fintech Credijusto acquires data analytics platform, Visor

MEXICO CITY, April 21, 2021 /PRNewswire/ -- Credijusto, the leading technology-enabled small business lender in Mexico, announced today the acquisition of Visor, a data analytics and digital factoring platform.

Founded in 2015 by Rubén Sánchez Souza and Jean-Bernard Rolland, Visor has analyzed over 15,000 companies in Latin America. Additionally, its services have been used by over 40 financial institutions, marketplaces, and corporations to assess credit risk of the companies they do business with. Furthermore, Visor is an important source of analytics for development banks and supply chain financing firms, who utilize the platform's technology to offer credit solutions to their clients.

As part of an international growth strategy, Visor expanded its operations to Brazil three years ago. In this short period of time, the company established itself as one of the leading players in the development of risk analysis tools for the Brazilian SME space, adapting to local business demands and information sources. 

Visor's competitive advantage lies in its technology and data analytics capacity. "Our platform was built to provide confidence and robust data analysis in credit decision processes as well as to enable dynamic risk assessment, which is key in maximizing portfolio profitability in the SME space.", explains Rubén Sánchez Souza, Visor's CEO and Co-Founder.

Since its founding, Visor has been supported by world-class investors, who have closely followed the scaling of the business. "Visor has raised capital from leading US-based tech investors such as American Express Ventures, BlueRun Ventures, Finrebel, Leap Global, Mission Gate and 500 Startups, as well as Latin American-focused funds such as ALLVP, Ignia, Mexamerica and Vincus, raising over $12 million since inception.", detailed Roberto Velarde, Visor's CFO.

For Credijusto, the Visor acquisition is highly strategic as it will enable the company to expand its product suite and offer better solutions to its clients. "Among the disruptive technologies that were of particular interest to us, I would highlight its accounts payables module, its e-invoicing connectivity, its multiproduct-multibank flexibility as well as its digital payments controls which supports superior and more dynamic customer service, ultimately making commercial and credit processes more efficient.", noted Allan Apoj, Credijusto's Co-CEO and Co-Founder.  

This acquisition supports Credijusto's vision to become the leading financial services provider for Latin American SMEs by offering innovative solutions, including data analysis and digital factoring, which Visor has successfully developed during the past five years. "We have known Visor for many years and have always respected their products, technology and engineering team. This acquisition is highly synergistic with Credijusto's existing technology and will enable us to quickly expand our multi-product offering to better serve the millions of Mexican SMEs.", commented David Poritz, Co-CEO and Co-Founder of Credijusto. 

For Visor, this transaction represents an unparalleled opportunity to scale its platform and attain significant impact in the market by teaming up with an important partner. "Credijusto's acquisition of Visor is an exciting progression for our company and a great outcome as we have joined forces with a fintech leader in our market. The impact of Visor's technology will be multiplied as part of Credijusto's platform as the future of the combined business is tremendous," said Sánchez Souza. 

This acquisition by Credijusto reflects ongoing consolidation in the Mexican fintech industry as the largest platforms seek to expand their offerings and establish themselves as important players in the country's financial services space. Via innovative products and services, Mexican fintech players have the opportunity to support the country's 6 million SMEs, which generate over 50% of Mexico's GDP and employ over 70% of the active workforce, while only receiving 20% of the outstanding credit in the banking system. 

About Credijusto
Founded in 2015, Credijusto is a financial technology company focused on lending to the underserved and rapidly growing small and medium-sized enterprise (SME) market in Mexico — via products that are superior in price, speed of delivery and quality of customer experience. The company uses a combination of cutting-edge software design, innovative applications of data science and advanced internal processes for decision making and product structuring. 

Credijusto is backed by a world-class group of institutional investors, including Goldman Sachs, Credit Suisse, Victory Park Capital, QED Investors, Point72 Ventures, Kaszek Ventures, Thomvest Ventures, Broadhaven Ventures, Ignia, Elevar Equity and John J. Mack. 

View original content:http://www.prnewswire.com/news-releases/mexican-fintech-credijusto-acquires-data-analytics-platform-visor-301273501.html

SOURCE Credijusto