Tangelo, a financial technology company in Latin America specializing in alternative credit, closed a credit facility for $3 billion Mexican pesos ($149.7 million) with HSBC. This credit facility aims to support Tangelo’s Mexican asset-based lending portfolio growth, optimizing cash and leverage levels, allowing Tangelo to continue diversifying its debt profile, promoting funding in local currency and supporting increasing demand for its SME credit solutions.
This new facility will allow Tangelo to maintain an efficient capital structure, improve its profitability profile and continue reporting strong financial indicators.
“The signing of this facility provides us with sufficient liquidity to keep expanding our asset-based lending portfolio, supporting more Mexican small and medium enterprises, and consolidate our strong position in the market,” Alejandro Monzó, co-CEO of Tangelo, said.
