Goldman Sachs Lends USD 140M to Chile-Based Fintech Xepelin

US-based financial services company Goldman Sachs has agreed to lend USD 140 million to Chile-based fintech Xepelin to support its expansion into Mexico.

Representatives from Xepelin revealed that this is the largest credit facility for the company to date, and that it is denominated in Mexican pesos.

The same source revealed that Xepelin plans to expand to other nations and that it has a goal of increasing its current portfolio of 15,000 clients to 1 million clients by 2025. According to the company's own estimates, the market for payment services between companies in Latin America is as large as $8 trillion.

The asset-backed loan from Goldman Sachs has a maturity of about three years and will be released in two tranches, one for USD 40 million and the second one for USD 100 million.

Xepelin is providing business digital transformation by scaling the existing payment infrastructure and creating a platform for SMEs at a regional level. The company provides small and medium-sized companies with real-time financial information and integrates financial services with different data models that allow reducing, from weeks to hours, the time normally taken by the financial processes they must go through.

(Source: The Paypers)