Sempli
Colombia – Inclusive fintech platform to unserved micro & small enterprises
US$6 million LCY loan to provide working capital to micro and small companies in Colombia
The Client
- Sempli aims to be the most relevant digital bank for small business in Colombia by 2028
- Enhances business growth and productivity of micro and small business by building and providing digital lending solutions
- 53+ million loans originated as of today
- 2,700 business reached
The Transaction
- Amount: USD $6MM equivalent in COP
- Local Currency term loan
- Use of proceeds: support business activities related to working capital for MSMEs
- Under the Scaling Enterprise program with DFC and Ford Foundation
- Rated as “2X”, a global initiative that channels capital toward women-run companies
The Impact
Economic inclusion:
- ~91% of client companies are unserved by traditional Financial Institutions
- Create employment opportunities
Empower women:
- 40% of Citi’s loan supports on-lending to unserved Colombian women
- Expect to increase financing to micro and small companies from US$ 30MM by year-end 2021, to US$240MM by 2028
- Citi is the first international commercial bank funding relationship for Sempli, anticipated to catalyse additional finance from local lenders