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PC Capital’s Te Creemos Acquires Finsol

9 October 2020

PC Capital investment portfolio company Te Creemos Holdings acquired the loan portfolio and certain operating assets of Financiera Finsol, subsidiary of Financiera Independencia, company focused on microfinance banking in Mexico. 

(Press Release) On Friday October 9th, Te Creemos Holding, S.A.P.I. de C.V. (“Te Creemos”), a PC Capital investment portfolio company, acquired the loan portfolio and certain operating assets of Financiera Finsol, S.A. de C.V., SOFOM, E.N.R., subsidiary focused on village banking in Mexico of Financiera Independencia, S.A.B. de C.V., SOFOM., E.N.R. With this transaction, Te Creemos continues to consolidate its position as the largest private microfinance company in Mexico specialized in micro-credits for working capital, with now more than MXN 5,450 million in its gross loan portfolio and 586 branches. This is the second important acquisition of Te Creemos in 2020, after acquiring the loan portfolio of SOLFI, S.A. de C.V., SOFOM E.N.R. in August. Moreover, Te Creemos expects to continue to grow rapidly with new products and better services for its customers.

Regarding its latest acquisition, Jorge Kleinberg, Te Creemos’s CEO, stated that “Today is a really important day for Te Creemos. In the midst of one of the worst health and economic crises of the modern world, we can demonstrate and verify that Mexicans are on their feet and that in Te Creemos we are and will continue to be as close to our clients as ever. The popular sector lives day by day, fighting for its development and well-being. We believe in and trust Mexicans, and we continue to invest and serve them in the best possible way. This transaction strengthens us and continues the path of market consolidation that we have been successfully undertaking for the past five years”.
Likewise, Pablo Coballasi and Sebastián Izurieta from PC Capital commented that: “We are proud to be part of the history that, through hard work and effort, Te Creemos is shaping in the Microfinance industry in Mexico. This milestone in financial inclusion will help the company to continue to influence the lives of more than 1.2 million people in Mexico per year. We are confident that this testimony of success and its impact will continue to grow and allow the most vulnerable sector of the population of our country to prosper.”

About Te Creemos
Founded in 2004, Te Creemos is a Mexican financial institution whose mission is to provide microfinance services and develop long-term relationships with its clients, employees, and partners through its two SOFIPOs: Te Creemos and CAME. Te Creemos mainly offers savings products, loans for working capital and insurance products to the most vulnerable socioeconomic sectors in Mexico.

About PC Capital
Founded in 2008, PC Capital is a private investment banking and private equity firm based in Mexico City that currently manages private equity vehicles focused on high social impact in Latin Amercia. Since its founding 12 years ago, PC Capital has successfully invested in the education, sustainability, food, and financial sectors. PC Capital is a member firm of the Mexican Association of Private Capital (“AMEXCAP”) and the Latin American Venture Capital Association (“LAVCA”).