Doopla.mx, the First Fintech Company Authorized by the CNBV

Faced with an increased demand for credit, due to the health crisis, fintech companies such as Doopla.mx have become an escape valve to support the population, 70% of whom find in this, the first crowdfunding platform, resources to consolidate bank card debts or start a business.

This is the first Fintech to receive authorization from the National Banking and Securities Commission (CNBV) to operate in Mexico and Latin America, which records an average annual growth of 103%, with more than 750 thousand registered users and has funded $18.5 million (375 million pesos) in loans in its seven years of existence.

If you want to find more details about Doopla.mx and to read the latest business news in the world, download for free our companion app Born2Invest.

Doopla.mx executive said that by the end of 2022, they expect to have a 100% growth in funded loans

In a press conference, in the framework of its seventh anniversary, Juan Carlos Flores, CEO & founder of Doopla.mx, indicated that being a financing option, between 2020 and 2021, the demand for credit will increase between 50 and 60%. Of its users, 25% used it to start a business or mini-company.

“The demand for credit undoubtedly grew, we saw it very clearly, in the last two years both accredited and investors, a quite growing demand, this is normal, it is due to the confinement and digital resonance that Covid started, the digital transformation that made that we are now on smartphones”.

In addition to the fact that, being regulated by the country’s banking authorities, currently, they have an added value that differentiates it from other financial institutions by providing all kinds of security, certainty, and guarantees to its users, having passed the filters and tests in legal aspects, in terms of technological risk to avoid among other things, money laundering, cybersecurity.

“Having received the authorization under the Fintech law represents a huge achievement and pride for Doopla.mx and for the entire industry in the region, just this February marks one year since we received the authorization to organize and operate under that legislation. It is a great operational challenge and an enormous responsibility to belong to the select circle of regulated financial entities,” he said.

The firm’s executive said that by the end of 2022, they expect to have a 100% growth in funded loans and to have funded $11.35 million (230 million) loans to the population, but also to consolidate payroll loans, whose market amounts to nearly 17 million users.

According to Flores, the objective is to grow by 300% through greater alliances with different national and international corporations; today it is operating with the transnational company PWC and other SMEs and it is a credit where “everyone wins”, businessmen, collaborators, and investors.

He explained that, in this payroll credit, loans for workers range from 10,000 to 300,000 pesos with an interest rate from 12% to 22% per annum and terms from 12 to 36 months.

__

(Featured image by bergslay via Pixabay)

DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.

This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.

First published in Grupo EN Concreto, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.

Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.