Digitt, a fintech offering credit card debt refinancing for prime borrowers in Mexico, launched a $50 million debt facility with CoVenture Management, a private credit and alternative asset manager based in New York. The facility will help expand Digitt’s existing debt refinancing product, expand its product offering and deepen the company’s relationship with its growing customer base.
Digitt previously raised $4.8 million in equity financing from VC investors such as Clocktower Technology Ventures, FJ Labs, Gilgamesh Ventures, Yes VC, Angel Ventures Mexico and New Stack Ventures, together with renowned angel investors, such as former SoFi President, Saturnino Fanlo.
“Partnering with CoVenture marks a key milestone in our journey,” David García, CEO of Digitt, said. “We have built a strong foundation at Digitt that resulted in receiving 9 different offers from top players in the space, but given CoVenture’s reputation, experience, flexibility and ability to scale, we’re thrilled about working with them.”
Digitt also marks CoVenture’s first direct investment in Latin America.
“We are excited to be entering the Latin American market with Digitt and supporting David and his team’s continued growth on a product that already has an established track record and is actively solving an issue in Mexico’s consumer finance ecosystem,” Lei Tie, managing director at CoVenture, said.
