FinMaq, a leading Colombian company specializing in productive machinery financing for micro, small, and medium-sized enterprises (MSMEs), announced the closing of a $29 million funding round. The round was led by ALIVE Ventures, a top impact investment fund in Latin America, with participation from prominent international players such as 30N Ventures, Accial Capital, and local entities like Iris Bank, as well as existing investors. This capital injection will enable FinMaq to accelerate its expansion and bridge the financing gap in key sectors such as agriculture, healthcare, and construction in Colombia.
MSMEs make up 90% of the business ecosystem and generate more than 60% of formal employment in Latin America, serving as a vital engine for economic growth and social inclusion in the region. However, they face a structural financing gap that hinders their growth and competitiveness. According to the Inter-American Development Bank (IDB), the financing shortfall for this segment exceeds $100 billion in the region due to barriers such as lack of collateral and informality, which limit their access to formal credit.
FinMaq has developed an innovative financing model that combines advanced technology with a focus on productive assets to close this gap. Through a proprietary credit risk analysis system and asset-backed guarantees, FinMaq provides credit and leasing solutions to MSMEs traditionally excluded from the financial system. Since 2022, the company has grown its portfolio 4.8x to over $17 million, reaching more than 550 clients and consolidating its presence in key productive sectors through partnerships with over 40 machinery distributors. Additionally, the company has achieved positive profitability, focusing on financial sustainability and maintaining healthy unit economics.
Diego Sanz de Santamaria, CEO and co-founder of FinMaq, stated: “It is incredibly rewarding to find partners like ALIVE Ventures and 30N Ventures who believe in and align with our mission to generate positive social impact through financial inclusion. Their support validates that it is possible to create sustainable business models that generate positive impact while building a better country. The journey has not been easy, but hearing the stories of our clients, who overcome significant challenges with resilience and a little push from FinMaq, drives us as a company to improve every day. That is the greatest value Alive and 30N saw in FinMaq and what deserves to be amplified.”
Santiago Álvarez, Managing Partner of ALIVE Ventures, who will join FinMaq's board of directors, added: “We are thrilled to join this incredible project and honored to be invited by the founding team to be part of FinMaq. The financial solutions provided by the company are reaching a critical segment of the economy, traditionally underserved and challenged by informality. We are confident that this new funding round, which strengthens FinMaq’s capital, will benefit thousands of businesses with timely and relevant access to financing.”
Salvador Said, Managing Partner of 30N Ventures, commented: “FinMaq’s model is not only changing the game in Colombia but also has the potential to expand to other countries in the region. Its innovative approach to connecting MSMEs with productive financing solves a massive problem affecting thousands of businesses in Latin America. At 30N Ventures, we are excited to support this project, which not only boosts businesses but also promotes the economic development of the entire region.”
FinMaq is committed to driving the economic development of MSMEs in Colombia by improving productivity and fostering financial inclusion. Currently, 93% of its clients are micro and small businesses, 30% of which have no previous credit history, 40% are led by women, and 50% operate outside the country’s main cities. The most significant impact is that for every machine financed, at least two new jobs are created, and for 55% of clients, the financed machine becomes their primary source of income—an income they previously lacked.
This round marks the beginning of a positive snowball effect for FinMaq, as it enables continuous improvement of its capital structure, leading to new and better debt facilities. This increases the company’s capacity to provide equitable access to financing for more people in Colombia, contributing to a more balanced industrial competitiveness in the country.
For more information about FinMaq, visit https://www.finmaq.com.co/