SoftBank Innovation Fund helped the business lending platform increase its total funding to more than $140m as it looks to expand its services.
Internet and telecommunications group SoftBank invested $100m in Mexico-based business financing platform Konfio yesterday through its $5bn Latin America-focused Innovation Fund.
Konfio runs an online platform that provides financing to small and medium-sized businesses at better rates than conventional business loans offered by Mexican banks, which are increasingly shying away from business lending.
The company generally lends between $5,000 and $770,000 a time and its platform utilises artificial intelligence technology to ensure applicants can get approval in as little as…
