{"id":5178,"date":"2017-06-28T13:49:07","date_gmt":"2017-06-28T13:49:07","guid":{"rendered":"https:\/\/insights.invyo.io\/latam\/?p=5178"},"modified":"2018-02-12T15:48:04","modified_gmt":"2018-02-12T15:48:04","slug":"the-lending-platform-first-circle-expands-to-argentina","status":"publish","type":"post","link":"https:\/\/insights.invyo.io\/latam\/fintech-corner\/the-lending-platform-first-circle-expands-to-argentina\/","title":{"rendered":"The lending platform First Circle expands to Argentina"},"content":{"rendered":"

First Circle entered the Argentinian credit Fintech market. The Philippines-based firm joins Mercado Libre (NASDAQ:MELI) to assit small businesses with working capital. <\/strong><\/p>\n

First Circle<\/strong><\/a>, an Irish-led fintech start-up uses technology to lend to small and medium-sized enterprises, using proprietary software<\/strong> and credit scoring<\/strong> to increase access to financial services, and speed up the process.<\/p>\n

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First Circle recently raised $1.3 million<\/strong> (\u20ac1.22 million) to further develop its technology and data analytics<\/strong> platform. This investment came from Accion Venture Lab<\/strong> and Deep Blue VC<\/strong>.<\/p>\n

The company is operating in Argentina through alliances with e-commerce platforms and groups that sell online. It has clearly been a strategic move to grow further in the market. First Circle’s partnerships with e-commerce platforms and its digital services enable the company to acquire and underwrite its small business clients at scale.<\/p>\n

With average loans of $10,000<\/strong> and terms of between 2 to 6 months<\/strong>, First Circle already has more than 30 operations in Argentina<\/strong>. Always with a B2B scheme, the company aims for a $500,000 loan portfolio<\/strong> by 2017.<\/p>\n

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First Circle entered the Argentinian credit Fintech market. The Philippines-based firm joins Mercado Libre (NASDAQ:MELI) to assit small businesses with working capital. First Circle, an Irish-led fintech start-up uses technology to lend to small and medium-sized enterprises, using proprietary software and credit scoring to increase access to financial services, and speed up the process. First […]<\/p>\n","protected":false},"author":22,"featured_media":5181,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1797,19,3,6],"tags":[1509,1508,1510],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n\t\n\t\n