Supporting Peruvian MSEs through digital lending

Oikocredit has participated in a US$ 5 million Pre-Series A funding round into Peruvian digital financial services company Prestamype to support underserved and underbanked micro and small enterprises (MSEs) in the South American country.

Oikocredit led the round alongside the social impact investor Acumen Latam Impact Ventures (ALIVE). Other participants included Salkantay Ventures, Inca Ventures, AVP, and several angel investors.

Prestamype is a leading fintech lender in Peru. Its digital ecosystem of financial products combines technology and mortgage guarantees to expand access to credit for MSEs, providing easier access, quicker processes, competitive rates, and more flexible payment schedules than traditional banking solutions.

MSEs represent more than 99% of enterprises in Peru and employ 54% of the workforce, according to the Organisation for Economic Co-operation and Development (OECD). However, many MSEs find it difficult access financing quickly and in time to support their business needs.

Prestamype currently provides financing services to more than 4,000 entrepreneurs with its multi-sectoral approach. It has disbursed US$ 43 million and plans to close 2023 with a total of more than US$ 110 million.

It will use the investment to support the growth of its on-balance-lending model by leveraging loans, its factoring funding and consolidating the product ecosystem in the Peruvian market. 

The closing of this investment round brings Prestamype a step closer to its goal of becoming the first neo bank for micro and small businesses in Peru.

The fintech was founded by Laure Schlesinger and Carlos Ferreyros, who have experience in finance, loan structuring and technology.

Following the investment,Harold Calderón, Equity Officer at Oikocredit, and Maria Pia Morante, Investment Director at ALIVE Ventures, will join Prestamype’s board of directors.

Read the full press release here.