Most of the funding requests of small and medium-sized businesses is rejected by traditional financial institutions. This factor becomes a barrier that in many cases prevents them from taking the next step in their growth and reaching international trade.
Paulina Aguilar, co-founder and country manager of the financing and currency purchase platform Worldhighlighted the need to support the entrepreneurial sector to access international trade in a country where 42% of GDP comes from these companies according to Inegi data.
“There is a huge gap between the demand for capital and the real supply of capital by traditional financial institutions,” said Aguilar, who finds in this factor the main reason for the “exponential growth” that Fintechs have experienced in Mexico in the last few years. most recent years.
For this directive, the search for more options has accelerated the Fintech growth in Mexico, something that he observes in Mundi less than two years after his first operation. Every month the digital platform processes 2,000 requests for export financing through factoring.
After carrying out the corresponding risk analysis, which allows you to have a low past due portfolioMundi acquires invoices from companies to be paid in large installments and that prevent a large part of SMEs from having the necessary liquidity to be able to extend their operations
“The truth is that the response has been very good in two years because there is an enormous need. SMEs are looking for financial allies. We have seen great results”, he said of their exporters as well as importers, to whom they provide other services such as currency hedging.
For Paulina Aguilar, the opportunity that Fintechs have today is as great as the economy of Mexico, a country that, she says, is full of committed entrepreneurs who are eager for opportunities. To this she attributes the growing supply of solutions outside the traditional sector.
On technology gapwhich tends to exclude the entrepreneurial segments of older ages, stated that in Mundi they have seen a demand from entrepreneurs of all ages and from companies of different sizes, which shows that they are increasingly looking for digital services.
Like a large part of the Fintech companies in Mexico, Mundi was forged during the Covid-19 pandemic, a complex stage for business. However, according to Aguilar, it went ahead practically unaffected by the global context thanks to the fact that its portfolio is diversified.
“Trade reaches many sectors, we do not have a concentration of any specific industry, and this is good in our risk management,” he said, adding that, in a broad market like the Mexican one, with high competition, the most benefited are the customers. with more and better products.