SMEs Get Boost With Marco’s $200m Credit Facility
Marco, facilitating trade financing platforms for small and medium-sized enterprises (SMEs), has been granted a $200 million credit line. Marco also revealed that it had secured $8.2 million in equity funding, with Arcadia Funds as the lead investor.
As per the latest news reports, the company representatives have said they combine cutting-edge decision-making software with top professionals in their field. Marco asserts that this is the first commercially available operating system in LatAm that specifically addresses the urgent issue of inadequate access to credit.
Marco says it does this by making international trade easier, faster, and more creative than ever before. The company asserts that its tech-enabled risk solutions outperform conventional financing techniques by providing small and medium-sized enterprises (SMEs). This is done with a decision in days rather than weeks and a 24-hour approval turnaround, thus facilitating their entry into the global economy.
Marco was the first LatAm fintech to lend $100 million last year, and the company has financed over $254 million with zero losses since its inception. It also experienced a 1,500% compound annual growth rate (CAGR) in funding.
Marco plans to allocate $750 million by 2023, emphasizing specific market investment and exits in the United States and Latin America. This investment will be made in countries like Peru, Mexico, Columbia and Ecuador, Colombia, and Peru, whose combined exports amount to more than $490 billion.
Nik Bougalis, the new chief technology officer, has designed some ground-breaking products to work on that will meet the most pressing needs of exporters. This latest round of funding comes at a time of remarkable expansion at Marco, and it will allow satisfying the urgent liquidity needs of small exporters.
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