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R2 secures $50m debt facility and $9m in equity funding for expansion in Latin America

Dec 03, 2024•over 1 year ago

Contract Type

partnership

Mexico CityFinancial ServicesFinanceFintechLending

Description

Mexican fintech start-up R2 has secured a $50 million debt facility from Community Investment Management (CIM) along with $9 million in fresh equity funding. The company plans to use the debt facility for expansion in Chile and the equity funding to invest in computing power for AI-based models and to accelerate product development initiatives to integrate more platforms.

Company Information

Company

R2

Location

Mexico City, Mexico City, Mexico

About

Founded in 2020, R2 enables payment processors, POS systems and marketplaces to provide financing to small and medium businesses in Latin America. Via its API, R2 provides an end-to-end lending experience to technology platforms so that they provide capital to businesses without taking on any risk. R2 works with some of Latin America's leading technology companies and is backed by General Catalyst, Gradient Ventures, Y Combinator, 166 2nd, Femsa Ventures, among others.

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