- 🖊️ Startup Name: Nelo
- 📍 Headquarters: Mexico City, Mexico
- 📅 Year Founded: 2019
Traditional consumer loans can be difficult to obtain, especially for consumers with poor credit or limited income. Additionally, traditional loans often have a lengthy and complex application process and high interest rates and fees. This can make them expensive and inaccessible for many borrowers.
Nelo offers flexible payment plans to consumers at checkout. Nelo's solution is designed to make shopping more accessible and affordable for everyone, regardless of credit history or income level. In contrast to most BNPL products that are integrated services on vendors' websites, Nelo operates from their own app.
Nelo is available to use in more than 300 stores including Amazon Mexico, MercadoLibe, Shein, Coppel, Zara, Cinépolis, and Movistar.