FinMaq secured a $29 million funding round led by ALIVE Ventures to enhance its financing solutions for micro, small, and medium-sized enterprises in Colombia.

Information on the Target

FinMaq is a prominent Colombian company dedicated to financing productive machinery for micro, small, and medium-sized enterprises (MSMEs). Recently, FinMaq successfully closed a $29 million funding round, signaling a significant step in its ongoing efforts to bridge the financing gap within critical sectors such as agriculture, healthcare, and construction. The funding round was led by ALIVE Ventures, a leading impact investment fund in Latin America, and saw participation from key international investors including 30N Ventures, Accial Capital, and local entities like Iris Bank, alongside existing investors.

The company has established an innovative financing model that integrates advanced technology with a focus on productive assets, making financing accessible to MSMEs that have traditionally been excluded from the formal credit system. Since 2022, FinMaq has experienced remarkable growth, expanding its portfolio 4.8 times to surpass $17 million and serving over 550 clients. The company emphasizes financial sustainability and boasts healthy unit economics, contributing to its positive profitability.

Industry Overview in Colombia

The landscape of micro, small, and medium-sized enterprises (MSMEs) is crucial to Colombia's economy, reflecting a broader trend seen across Latin America. These enterprises constitute approximately 90