Mexican fintech Fairplay raises +$100 million

Fairplay, the leading revenue-based financing platform in Latin America, has secured a significant debt facility of $100 million USD from Community Investment Management LLC ("CIM"), a move that will help the company continue its mission of providing fast, flexible and fair financing options for a high-growth and underserved market in Mexico.

‍Fairplay also secured an additional $8.5 million USD in equity capital from internal investors like Dila Capital, Elevar Equity, Speedinvest, Nazca, and Kayyak Ventures, which will be used to further develop its added-value services platform and expand its financial products.This funding is a significant milestone for Fairplay, which has already facilitated over $125 million USD in loans to hundreds of e-commerce businesses in Mexico.‍

Fairplay's innovative approach to financing has made it possible for e-commerce businesses and marketplace sellers to access financing quickly and flexibly. The company's use of technology and data-driven solutions has made financing faster, flexible, and fair for businesses in Mexico.Mexico is one of the fastest-growing e-commerce markets in Latin America, with a growth rate of 23% in 2022, according to Marketer. This growth is expected to continue, with estimates suggesting that the e-commerce market in Mexico will be worth $36 billion USD by 2025.

‍Despite this growth, access to financing remains a significant challenge for many e-commerce businesses in the country. Fairplay's mission is to change that by providing flexible and accessible financing options that empower entrepreneurs' growth, fairly."We are thrilled to have Community Investment Management LLC ("CIM") as a partner in our mission to empower entrepreneurs' growth, fairly, and continue building the technological and financial products that accelerate the entrepreneurs' competitive capabilities," said Manolo Atala, Co-founder and CEO of Fairplay.

"This debt facility will enable us to scale our platform and provide even more flexible financing options to the underserved but high-growth market in the country. We are also grateful for the continued support of our internal investors, who share our vision for a more equitable and prosperous Latin America."Elena Tchouvasheva Amato, Managing Director at Community Investment Management LLC ("CIM"), expressed excitement about partnering with Fairplay in their mission to drive economic growth and prosperity in Latin America.

"We believe that their innovative approach to financing has the potential to create real and lasting impact, and we are proud to support their efforts through this debt facility."The closing of this debt facility and equity capital raise is a significant achievement for Fairplay and positions the company for continued growth and success. With this funding,

‍Fairplay is poised to become an even more important player in the e-commerce ecosystem in Mexico, helping to drive economic growth and empower entrepreneurs to succeed.