FinTech firms meet with investment funds to create alliances and financing alternatives for individuals and SMEs

PRESS RELEASE from Acafi

This is a machine translation of the original press release issued in Spanish.

ACAFI and FinteChile organized a Demo Day, in which five digital lending companies presented their projects to representatives of local funds.

  Access to non-bank financing has become one of the main challenges faced by small and medium-sized companies (SMEs) to cope with the economic consequences produced by the Covid-19 pandemic.

Faced with this reality, and with the aim of seeking alliances that allow access to financing alternatives for individuals and companies, the Chilean Association of Investment Fund Administrators (ACAFI) together with the Fintech Association of Chile (FinteChile) held a Demo Day, which brought investors together with digital lending – or loan – companies.

Through a round of exhibitions that was carried out via Zoom, the founders of Fintech Cumplo, RedCapital, DobleImpacto, QuantumX and SeSocio presented their projects to 42 managers of administrators such as MBI Inversiones, Toesca, Moneda Asset Management, Banchile , Fynsa, Santander Asset Management, Quest, Sartor, LarrainVial, Independencia, Credicorp, Chile Venture, HMC Capital, Activa Alta Assets, Ameris and Equitas, among others.

“This is the third Demo Day that we organize together with FinteChile and this time, the main focus is alliances. The development of financial technology ventures together with the diversification and high specialization offered by investment funds, are an opportunity to support small and medium-sized companies that play a key role in the economy and in the generation of jobs in the country " said the general manager of ACAFI, Pilar Concha.

FinteChile's executive director, Ángel Sierra, highlighted that “this year the Cambridge Center for Alternative Finance (CCFA), which measures financing alternatives worldwide, highlighted that Chile ranks first in Latin America, excluding Brazil. This shows the capacity of Chilean Fintech companies to originate debt”.

Who are the Fintech companies that participated?

• Cumplo: Platform to invest in financing for SMEs, the largest in Latin America.
• RedCapital: Crowdfunding aimed exclusively at financing SMEs.
• DoubleImpact: Crowdfunding to finance companies that have a positive economic, social and cultural impact.
• QuantumX: Development of platforms to connect financial institutions and asset managers with investors.
• SeSocio: Marketplace for financing ventures.