Wednesday, December 11, 2019

Camino Financial Collects $8M

Los Angeles-based Camino Financial, a fintech startup offering up small business loans to Latinx businesses, announced an $8M funding round this morning, its Series A. According to the company, the funding was led by Credito Real, the Mexican financial services company. As part of that funding, $3M in convertible notes, from DILA Capital, 10x Capital Management, and others, will convert into equity. Camino Financial says it is building artificial-intelligence driven software which will help unlock access to the Latinx market, where it says entrepreneurs have a difficult time getting funding for their business ventures. The company said it is using machine learning models to make credit and other financial products available to those entrepreneurs. Camino Financial is led by CEO Sean Salas. More information »