Credijusto and i2c Partner to Offer Feature-Rich Credit Card for Mexico’s Small and Medium-Sized Enterprises
Collaboration enables innovative commercial credit solutions
REDWOOD CITY, Calif.–(BUSINESS WIRE)–i2c Inc., a leading provider of digital payment and banking technology, today announced its partnership with Credijusto, the leading technology-enabled small business lender in Mexico, to provide frictionless credit solutions for the country’s small and medium-sized enterprises (SMEs), through the forthcoming launch of the Covalto American Express credit card.
On a mission to change the accessibility and usage of contemporary commercial credit, Covalto will be available to businesses throughout Mexico in 2021. Issued by Credijusto, backed by i2c and supported on the American Express network, the modern credit card will be a first-of-its-kind corporate solution with digital onboarding. Fee and annuity free, the card and financial software provides an innovative means for companies to control expenses and have increased visibility into their business.
With the support of i2c and its highly-configurable payments technology, Credijusto will offer customers feature-rich, digital-first corporate cards with unlimited cashback, next-gen security, 40-days of financing, purchase payment options of up to five monthly installments and virtual card capabilities with a fully digital experience via the Covalto app. This will reduce onboarding times and allow customers immediate access to their credit lines.
“We’re thrilled to partner with and support Credijusto in delivering a truly novel product for the Mexican SME market,” said Kevin Fox, EVP, Global Head of Sales, i2c. “Innovative ventures like these are a great example of how current fintech and issuer-processor collaborations are reaching under-addressed, high-demand market segments.”
“i2c was an obvious technology partner with the technical capabilities, reliability and commitment we were looking for to support our efforts in developing an integrated partner ecosystem,” said Allan Apoj, Co-CEO and Cofounder of Credijusto. “Beyond the technology, their dedication to our vision of bringing the future of banking to Mexican small and medium businesses was paramount to this partnership,” said Apoj. “Further, American Express, as an aspirational brand, brought everything together,” Apoj added.
Credijusto’s Covalto commercial credit offering focuses on replacing the common practice of business owners resorting to personal payment instruments to operate their businesses as well as providing a number of value-added benefits.
Founded in 2015, Credijusto is a financial technology company focused on lending to the underserved and rapidly growing small and medium-sized enterprise (SME) market in Mexico — via products that are superior in price, speed of delivery and quality of customer experience. The company uses a combination of cutting-edge software design, innovative applications of data science and advanced internal processes for decision making and product structuring.
Credijusto is backed by a world-class group of institutional investors, including Goldman Sachs, Credit Suisse, Victory Park Capital, QED Investors, Point72 Ventures, Kaszek Ventures, Thomvest Ventures, Broadhaven Ventures, Ignia, Elevar Equity and John J. Mack.
About i2c Inc.
i2c is a global provider of highly-configurable payment and banking solutions. Using i2c’s proprietary “building block” technology, clients can easily create and manage a comprehensive set of solutions for credit, debit, prepaid, lending and more, quickly and cost-effectively. i2c delivers unparalleled flexibility, agility, security and reliability from a single global SaaS platform. Founded in 2001, and headquartered in Silicon Valley, i2c’s next-generation technology supports millions of users in more than 200 countries/territories and across all time zones. For more information, visit www.i2cinc.com and follow us at @i2cinc.
Chief Marketing Officer, i2c