Colombian Fintech FinMaq Raises US$6.5 Million Series A to Expand Equipment Financing
Colombian fintech FinMaq has raised US$6.5 million in a Series A funding round led by Accion, as the company looks to expand access to machinery and equipment financing for small businesses and independent workers. The round included new investor Mundi Ventures, alongside existing backers ALIVE Ventures and 30N Ventures. The capital will support the company's efforts to scale its financing operations and reach more businesses that face difficulties obtaining credit through traditional financial institutions.
Founded by Diego Sanz de Santamaría, who serves as CEO, and Diego Acero, the company's CFO, FinMaq focuses on financing productive assets used by micro, small, and medium-sized enterprises. Its offering covers machinery and equipment for sectors including agriculture, construction, manufacturing, healthcare, and transportation. By working with equipment distributors, the fintech provides financing options at the point of sale, allowing businesses to acquire assets that can support their operations without relying exclusively on conventional bank loans.
FinMaq Targets the Financing Gap for Small Businesses
FinMaq's model combines partnerships with equipment distributors, proprietary credit assessment models, and digital onboarding to provide financing for productive assets. Its solutions include credit, rent-to-own arrangements, hybrid financing, and post-sale services. This approach is designed to serve businesses and independent workers that may have limited credit histories or face barriers when seeking financing through traditional channels.
The company reports that it has served more than 1,600 clients and disbursed over US$100 million. With the new funding, FinMaq plans to double its cumulative disbursements, surpassing US$200 million, and reach more than 5,000 clients within the next 18 months. These targets reflect the company's strategy of expanding access to equipment financing among businesses that need machinery to increase productive capacity. The investment also follows a US$29 million financing announcement in January 2025, which combined equity and debt, with ALIVE Ventures leading the equity portion.
Investors Back FinMaq's Equipment Financing Model
Accion led the Series A, bringing its focus on financial inclusion to a business model centered on financing productive assets. Mundi Ventures joined the company as a new investor, while ALIVE Ventures and 30N Ventures continued their participation. The combination of investors provides backing for FinMaq as it seeks to expand its reach among small businesses and independent workers in Colombia.
Access to machinery and equipment can be a significant barrier for smaller businesses seeking to grow, particularly when traditional financing options are difficult to obtain. FinMaq's point-of-sale model seeks to address that challenge by connecting financing with the purchase of productive assets. As the company works toward its customer and disbursement targets, its next stage of growth will depend on expanding its distributor partnerships and serving businesses across additional sectors and markets.
Source: LatamList
