Clave partners with Kandeo to expand digital consumer lending in Colombia

Clave

Partnership will address the unmet needs of millions of Colombian consumers requiring easy access to credit and digital services

GREENWICH, Conn. and MIAMI, Dec. 7, 2021 /PRNewswire/ -- Clave, a leading fintech consumer lending platform in Latin America, announced a strategic partnership with Kandeo Asset Management, one of the leading private equity firms in Latin America, to expand digital consumer lending in Colombia. Clave's technology provides a comprehensive lending and payment solution offering point of sale, BNPL and payroll discount lending to merchants and consumers. Starting with Rayco (a nationwide Colombian retailer) Clave will significantly enhance the consumer experience by providing its customers with a digital wallet to easily access credit and payment options at point of sale.

The partnership brings together Clave's leading technology and expertise in consumer credit with Kandeo's strong track record and deep expertise in providing leadership and management solutions to companies in Latin America. The partnership also aligns their shared vision of enhancing the financial inclusion of the people of Latin America.

Pablo Pizzimbono, Clave's co-founder and CEO said: "We are very excited about our partnership with Kandeo and the opportunity to expand our footprint throughout Latin America. Our digital wallet provides a simple and secure solution that will boost the growth of thousands, if not millions, of merchants while enhancing the lives of millions of consumers in Latin America that lack easy access to credit and services that are critical to their standard of living".

Eduardo Michelsen, Kandeo´s CEO added: "We couldn't be more excited about our strategic partnership with Clave given the huge synergies and shared vision of growth in digital consumer lending in Latin America".

About Clave
Clave is a digital lending platform providing users with a wallet to access simple, intuitive and secure solutions to traditional financial services that include credit, payments and transfers as well as providing a gateway to a new age of financial products based on blockchain technology. Clave represents the new financial ecosystem that removes the barriers between traditional finance and emerging consumer products built on blockchain, unleashing the power of new technologies and re-defining financial inclusion. For additional information please visit www.clave.com

About Kandeo
Kandeo is a regional Asset Manager managing private capital funds since 2010; founded by seasoned professionals from the Latin American Finance, Private Equity and Consulting industries across Latin America. The Kandeo network includes offices in Colombia, Peru, Mexico and the US, with over 20 full-time investment professionals. Over the past decade, the executive team has brought leadership focused on operational excellence and strong Environmental, Social and Corporate Governance (ESG) performance.
The Asset Manager has been part of transactions to date over USD 1 billion throughout its investments. Through all its Portfolio Companies, Kandeo has served more than 500 thousand clients (67.3% female clients), there is a 100% female board member representation and 41% of management positions are filled by women. Kandeo's track record proves it has been making significant strides to fill in the needs of equality and financial inclusion in Mexico, Colombia, and Peru through its investments and business practices. For additional information please visit www.kandeofund.com.