Finkargo is a Colombian FinTech startup that provides financing to SMEs that trade with international suppliers. Generally, these companies are ignored by traditional financial institutions, this is the problem Finkargo is addressing. Financing their transactions with Finkargo gives SMEs many advantages. They increase their negotiation power with suppliers by being able to pay in advance and order larger amounts of supplies, as well as optimizing their cashflow by not having to invest upfront, and using exchange rates as an advantage by having access to flexible financing in USD.
The startup founded in 2021 by Tomás Shuk, Santiago Molina and Andrés Ferrer has already financed more than 700 international transactions, with a total amount of USD $50M.
Finkargo's latest funding round was led by Community Investment Management (CIM), an impact investment fund that invests in innovative companies that seek to contribute to financial inclusion in emerging markets. The capital will be used to accelerate the growth of more than 600 SMEs in Colombia.
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