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Small loans for Latin America's middle class1-10 Employees
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Small loans for Latin America's middle class
At Apurata we provide small loans to the Latin America middle class. 55% of Latin American workers are in the informal sector, with hard to verify income sources. Banks are slow and reject most of them, forcing them to dangerous loan sharks or shamefully borrowing from their neighbors. We approve 2x as many people as banks, and our loans are fast, safe & private. We gave out 1,488 loans in July and earn $21 / loan. Our customers, with incomes between $4-10k, borrow 2-3x a year, and there are 250mm of them in LatAm. That makes it an $11bn market.
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Investor in @Iterable @DroneDeploy @Scentbird @Cratejoy @Conekta @Nubity and others, Advisor sometimes.
Jose Enrique Carrillo
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