Milio is a Colombian fintech startup that offers businesses the possibility to provide their clients with flexible payment plans. This company was founded last year in Bogotá by Toni Riera, Juan Luis Pérez and Daniel Gómez, and has just been selected as part of Y Combinator's to the W23 batch.
“We are creating a simple technology so that B2B-focused companies can easily offer digital loans” Toni Riera, CEO of Milio.
The company has already given 550 loans to more than 400 SMEs in Colombia, and is already working with four key partners that can help them reach more than 20,000 businesses.
"The loans can be paid within 30, 60 and 90 days, according to the risk rating of the merchants."Juan Luis Pérez, COO of Milio.
The loans are interest free, as the company's current business model works by charging a credit management fee to the merchant. Additionally, Milio has a feature that facilitates creating payment links, designed for businesses that sell through different digital channels.
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