Created Date:
18 October 2021
Fintech and Regtech

Carey Olsen supports Konfio on funding round as it becomes Mexico's latest unicorn

Carey Olsen's corporate team in the Cayman Islands has advised Mexican startup Konfio on a Series E funding round totalling US$235 million, which values the provider of loans to small and mid-size enterprises (SMEs) at US$1.3 billion.

The valuation makes Konfio Mexico's fourth unicorn – a privately owned startup company with a valuation of more than US$1 billion. Konfio will use its latest funding to broaden its reach in the country and to make new acquisitions and integrations to improve its service platform and consolidate its offering as the operating system of choice for growing companies in Mexico.

The most recent funding included a US$110 million extension to Konfio's Series E capital raise, which had already secured US$135 million.

The Carey Olsen team advising Konfio on the Cayman law aspects of its latest funding round was led by partner Alistair Russell, assisted by associate Emily Cornhill.

Alistair said: "Congratulations to Konfio on this exciting milestone, which is testament to the platform and business the team has built. For Carey Olsen, Konfio are our second Mexican unicorn and we're incredibly proud to have supported them on this journey."

Established in 2014, Konfio has granted loans to 35,000 companies and has diversified to provide payment and accounting solutions for SMEs.