Finkargo is a Colombian-based startup that provides financing for SME importers in Latin America. The company uses an automated credit scoring model with alternative data sources and uses the imported goods as collateral.
SME importers usually hire freight forwarders to transport goods to Latin America. Freight forwarders buy spaces in bulk from shipowners and resell for SMEs at a margin, adding little value. As such, it is a highly commoditized business. Finkargo helps freight forwarders differentiate themselves and sell more by providing credit to their end customers. On top of that, Finkargo provides software to give more visibility about the process to the importer and the freight forwarding company.
The founders are insiders from the industry with deep expertise in collateralized B2C loans in Colombia, freight forwarding and software development. Before Finkargo, Santiago Molina co-founded a B2C lending startup with very good unit economics called Finamiga, Tomas Shuk was a partner in one of the largest freight forwarding companies in LatAm and Andrés Ferrer led several tech companies, including one based in Silicon Valley.
Finkargo is a Colombian-based startup that provides financing for SME importers in Latin America. The company uses an automated credit scoring model with alternative data sources and uses the imported goods as collateral.
SME importers usually hire freight forwarders to transport goods to Latin America. Freight forwarders buy spaces in bulk from shipowners and resell for SMEs at a margin, adding little value. As such, it is a highly commoditized business. Finkargo helps freight forwarders differentiate themselves and sell more by providing credit to their end customers. On top of that, Finkargo provides software to give more visibility about the process to the importer and the freight forwarding company.
The founders are insiders from the industry with deep expertise in collateralized B2C loans in Colombia, freight forwarding and software development. Before Finkargo, Santiago Molina co-founded a B2C lending startup with very good unit economics called Finamiga, Tomas Shuk was a partner in one of the largest freight forwarding companies in LatAm and Andrés Ferrer led several tech companies, including one based in Silicon Valley.