The Covalto Story
Founded in 2015, Covalto (formerly known as Credijusto) was an early innovator in building the technology infrastructure to leverage digital tax, e-invoice and other financial data to underwrite and service SMEs at scale. The company has built a one-stop solution for SMEs by bringing together a multi-product credit offering, banking services and a full suite of business analytics tools.
In 2021, Covalto became the first fintech in Mexico to acquire a regulated bank, supporting the expansion of its digital SME banking and services platform.
The company is backed by a world-class group of institutional investors including QED, Kaszek, Goldman Sachs, Point72 Ventures, Ignia, Rithm Capital, and Victory Park Capital.
To empower Mexico’s SMEs to achieve their potential by enabling access to innovative financial and technological solutions.
Vision
To empower Mexico’s SMEs to achieve their potential by enabling access to innovative financial and technological solutions.
History
The bank of the future, today.
2015 - 2017
- Built e-invoice and digital tax underwriting infrastructure
- Launched business loans
- Scaled the team to +50 employees
- Closed Seed Round (Victory Park Capital and Elevar Equity)
2018 - 2019
- Launched business leases
- Scaled the team to +300 employees
- Closed Series A (QED and Kaszek)
- Closed funding line with Goldman Sachs
- Closed Series B (Goldman Sachs and Point72 Ventures)
2020 - 2021
- Closed funding line with Credit Suisse
- Launched embedded finance strategy in partnership with Uber Eats
- Acquired Visor ADL
- Acquired Banco Finterra
- Launched trade finance
- Scaled the team to +350 employees
2022 - Today
- Rebranded as Covalto
- Launched digital savings and debit accounts
- Launched International Factoring
