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Nexu, the Mexican Financing Platform for Car Dealerships Raises USD $20M

Mexico's Nexu, an auto financing platform, raised $20M in a Series B round led by Valor Capital.

Nexu, a Mexico City, Mexico-based automotive financing platform, raised $20M in Series B funding.

The round was led by Valor Capital with participation from FinTech Collective and Endeavor Catalyst, as well as previous investors Altos Ventures, Wollef, Squareone, Clocktower Ventures, Gilgamesh Ventures, FJ Labs, Ivernet, and Capem. It included a debt facility with global bank HSBC.

The company intends to use the funds to invest in the development of its intelligent platform and the growth of its operations and services.

Founded by Abdon Nacif and Fernando Gómez, Nexu provides a platform complements the current systems and products at car dealerships and allows them to offer a digital and real-time financing experience to car buyers. With its proprietary credit and risk scoring system, the company aims to overcome the difficulties of finding car financing with favorable terms, and simplify the purchasing process.