Good Finance, a leading company in the online loan segment in the Colombian market, announced the closure of the Series A financing round led by GFI Investors, with the participation of a recognized local family office and current investors.
Grant loans to segments of the population
Good Finance uses a data-based approach to grant loans to segments of the population traditionally neglected in Colombia. Good Lender, the company’s short-term consumer loan product, was one of the region’s first 100% online credit products, when it was introduced to the market in 2012.
To date, the company has processed around 750,000 credit applications and has clients in all departments of Colombia. Good Finance plans to use the resources of this investment round to develop new products and continue its expansion in the Colombian market.
Process of growth and expansion
“We are very excited to work with GFI and with our current investors, in this process of growth and expansion towards new products,” says Sean Cole, CEO of Good Finance, “It is the ideal time for you with the help of investors with such experience , capitalize on other products all the knowledge acquired with Good Lender.
This would be the first investment of GFI Investors in Colombia, although the fund already has several investments in Latin America “We are not only excited for the opportunity to work with Good Finance, but also for being in Colombia. The Fintech market in Colombia has the potential to grow significantly and the growth that Good Finance has had to date shows how a digital and customer-centric model can gain traction, ”says Good Finance, a member of GFI Investors.
About Good Finance
Good Finance has operations in Colombia and develops credit products online for individuals and small businesses. The company is focused on using technology to give the best experience to its customers and maximize their operational efficiency.
Good Finance has developed a credit analysis model focused on the use of data to reach segments of the population traditionally excluded from this type of services. For more information visit, Good Lender
About GFI Investors
GFI Investors is a leading venture capital firm based in Alexandria, Virginia (USA). Its focus is to invest in financial sector companies in an early state with high disruptive potential in the United States, United Kingdom and Latin America.
GFI is dedicated to building large businesses, using a unique practical approach, which takes advantage of the decades of business and operational experience of its partners, to support their companies to achieve unprecedented growth.