AltScore Secures $3.5 Million in Seed Funding to Power B2B Embedded Lending Infrastructure in Latin America

AltScore, a fintech startup providing B2B lending infrastructure, has raised $3.5 million in seed funding. The financing supports development of our end-to-end Lending-as-a-Service (LaaS) solution, enabling B2B partners to embed credit products while giving MSMBs fair and timely access to liquidity in Latin America.

The seed round included US and LATAM funds, follow-ons from all previous Pre-Seed investors, first-class angels, and fintech operators. Leadership came from Far Out VC, with participation from Caffeinated Capital, Techstars, Unpopular Ventures, Kamay Ventures, BuenTrip Ventures, Lorimer Ventures, and CompuSoluciones Ventures. Notable angel investors included Miguel Fernandez (Capchase), Uri Tintore (Belvo), Tommy Nicholas (Alloy Financial), and Ivan Montoya.

AltScore is a company with an outstanding Founder Market Fit, which has created a transparent culture. — Jonathan Fentzke, Far Out VC

AltScore not only has a massive opportunity in the exploding Fintech revolution in LATAM, but the founders have deep domain expertise. — Andres Barreto, Techstars

What’s next

With Alternative Data, Credit Scoring, and Underwriting products established, AltScore will evolve into a comprehensive LaaS toolbox, adding Smart Collections, Loan Management, and Embedded Lending modules. The company will expand operations and relocate headquarters to Mexico.

The investment reflects AltScore’s over 10x revenue growth year-over-year and 34% CAGR over 12 months. We will concentrate growth efforts in the Mexican market to establish leadership in the LaaS space.

AltScore began operations in Ecuador in January 2021, offering LaaS APIs for underwriting, alternative data, scoring, and lending modules. Businesses can embed credit products to increase customer retention and LTV. We serve clients across South, Central, and North America.