Santander InnoVentures Invests in a55

Santander InnoVentures has led a $5 million round in the SME lender a55; a55 currently lends in both Brazil and Mexico, offering revenue-backed credit lines; the company looks to be the financing provider for service-based businesses across Latin America, but has started with SaaS businesses; they most recently launched in Mexico; a55’s underwriting looks at a platform which connects to a variety of data sources; borrowers have access to a monitoring dashboard where they can get further insights into their business; Santander InnoVentures believes that the current environment will accelerate consumer habits as it relates to digital and subscription models; this is their fourth investment in Latin America. Finextra

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