Digitt, a fintech offering credit card debt refinancing for borrowers in Mexico, secured a $50 million financing facility from Victory Park Capital (VPC), a global alternative investment firm specializing in private credit and asset-backed finance. The facility will help support Digitt’s continued growth as it expands access to transparent, fixed-rate installment loans for consumers in Mexico.
“We’re excited to partner with Victory Park Capital, a firm that shares a strong belief in the power of technology-enabled financial services,” David García, co-founder and CEO of Digitt, said. “This facility strengthens our ability to help more Mexican consumers reduce the burden of high-interest credit card debt, while continuing to scale a platform built around transparency, responsible underwriting and better borrower outcomes.”
Founded in 2019, Digitt’s lending model was inspired by García’s personal experience navigating the credit card lending market in Mexico. The company serves consumers who often carry credit card balances at annual rates that can range between 70-150%; Digitt’s installment loan product offers significantly lower annual rates, helping consumers refinance or consolidate existing credit card debt.
Jason Brown, senior partner at VPC, added, “Digitt has built a differentiated platform addressing a large and underserved segment of the Mexican consumer credit market. The company, which continues to exhibit accelerated, high-quality growth, is positioned to provide meaningful savings and improved financial flexibility to creditworthy consumers in a growing market.”
The financing from VPC will help Digitt expand its credit card refinancing portfolio and continue investing in its technology, underwriting and servicing capabilities as it scales across Mexico and works toward its mission of lowering the cost of credit in Mexico by providing consumers with access to affordable, flexible and predictable credit products.
