Mexican small businesses are being hit by the pandemic just as much as other markets and they are in desperate need for capital to bridge their businesses; the government programs are not as vast as other nations and certain requirements make it hard for small companies to get access to the debt; small business lender Konfio has acted as a key source of capital for companies with a seamless process and reasonable rates; Konfio had some good timing on their part as they raised their most recent round in December 2019 which allows them to work through the current crisis; Mexico overall has become a hotbed of fintech activity in recent years as Julie Ruvolo, Director of Venture Capital at the Association for Private Capital Investment in Latin America, explains to the FT, “In 2019, fintech was the top sector by deals and dollars, a trend that has been growing for at least the past three years.” Financial Times
