$100 million credit facility renewal · Fintech
Nelo renews $100m credit facility to support its consumer lending business
The renewal keeps credit available for an app that combines installment purchases with bills, mobile top-ups and cash access.
Credit behind everyday payments
Nelo’s app lets Mexican consumers split purchases into installments, pay bills, top up mobile phones and access cash. It also offers a Mastercard, placing several payment and credit tasks in one account.
Victory Park Capital renewed Nelo’s $100 million credit facility. The reported figure is the renewed facility size; the announcement does not state how much new money the renewal adds. The facility supports the credit portfolio behind Nelo’s consumer product, which the company says has reached one million active customers and three consecutive years of profitability.
Use of funds
Finance Nelo’s consumer credit portfolio
Funding history
$100 million credit facility renewal · This roundUndisclosed