The American fintech Glue It will increase its loan placements in the Peruvian market, relying on loans under the buy now, pay later modality.
Karina Torres, country manager de Glue Perúcomments that fintechs have opened up new business models that contribute to meeting the financing needs of small and medium-sized companies.
“Now fintechs are a much more attractive option because services are offered in an easier, faster and digital way, which allows companies to access financing when they need it most”, it needs.
Buy now, pay later (BNPL) lines of credit allow companies to access and purchase specifically the products they require for their business.
“With BNPL, Keo buys products for clients and makes sure that the credit is used for these purposes. On the other hand, with a loan for working capital, it is not known if the company will use it for its business”Torres details.
Backus
To ensure and make available to its customers the products they need for their businesses, Keo makes alliances with different companies. It is what he has been doing with Backus since 2021.
“We allow wholesalers and distributors to pay for the purchase of brewery products through a line of credit granted by Glueso that they can increase their sales”indicates the country manager of the fintech in Peru.
Credit tickets in this case range between S/ 5,000 and S/ 120,000. Keo has managed to place more than 170 loans for an amount greater than S/ 5 million. The projection for the end of the year is to reach placements above S/ 15 million.
Siderperu
During the first quarter of 2022, the fintech will also launch a pilot with the company Siderperu.
“In this case, we will use the BNPL model to grant lines of credit in dollars to small and medium-sized hardware stores, where the loan tickets are between US$1,000 and US$50,000″indicates Karina Torres.
By 2022, Glue plans to place, in all its projects, more than S/ 20 million soles and benefit 500 small and medium-sized companies.
“In the medium term, we plan to launch the Workeo product, which allows commercial buyers to access key inventory on credit and allows suppliers to increase their recurring sales within a B2B model, improving working capital management through a digital system. and without friction”indicates the country manager of Keo Peru.