Tribal credit is an SMB lending platform that is based out of the Philippines. Their goal is to make it easier to finance small businesses with a simple and fast online application. In addition to offering this service, they also have plans to expand their reach to other countries in Latin America. As a result, they are looking for talented individuals to join the team.
Founders
The founders of Tribal Credit have a mission to help small and medium-sized enterprises (SMEs) in emerging markets to succeed. To this end, the company provides a wide range of financial services to startups, from credit lines and lending to virtual cards and spend management solutions. This has been achieved through a unique and patented AI-driven approval process.
Although the Tribal Credit app is a fairly new product, the company is expanding its reach across Latin America. Its initial efforts are concentrated on Mexico, but they are also looking at four other potential markets. They are also exploring partnerships with neo banks and a leading startup accelerator.
The company also took a small step in the right direction with the announcement that it joined the Visa Fitch Fast Track Program. This is an elite group of finch companies. With the help of the program, Tribal is expected to accelerate its integration with the global payment network.
Platform
Tribal Credit is a payments platform for SMEs in emerging markets. It offers virtual corporate cards, 360-degree digital financial solutions, and credit lines for SMBs. In addition, the company provides payroll service for employees. The company has raised a number of investments.
Tribal Credit recently raised a $34.3 million Series A and debt round, and plans to expand into Latin America. It will serve the fastest growing SMEs in the region. As part of the investment, it also acquired Paoki, a financial services platform. This will help the company settle non-card purchases and provide international wires to 180+ countries.
Fitch solution
Tribal Credit is a finch company that provides digital platforms to emerging-market startups and small and medium-sized businesses (SMBs). The company offers corporate credit cards, virtual corporate cards, and spend management solutions to help SMEs thrive in the emerging markets. These solutions include advanced spend controls and payment options for non-credit card merchants. Unlike traditional business credit cards, Tribal does not charge interest and does not charge foreign transaction fees.
It also features a powerful, easy-to-use spend management platform for SMEs, and provides access to a credit line to spend on its products. In addition to the corporate card, Tribal recently launched Tribal Pay, a service that allows customers to pay non-credit card merchants without the need for a credit card. This means that customers can extend payment terms and settle payments on their accounts.
Expansion plans in Latin America
Tribal Credit, a global enterprise payment platform, plans to expand its operations in Latin America. The company has already established a strong customer base in Mexico and will soon enter Chile, Colombia and Peru. It provides virtual corporate cards and physical corporate cards.
Tribal has received funding from BECO Capital, QED Investors and Latin America Fund. This investment round is designed to help the company accelerate its growth in the region. In addition, it includes an equity round led by Coinbase Ventures and ECO Capital.
Tribal aims to improve the access to financing for small businesses in Latin America. It is an open platform that promotes diversity within the community.
Tribal combines traditional and emerging technologies. It has launched a beta spend management platform in December of 2019.
In January, the company completed a $40 million hybrid debt round. The funds will be used to expand its products, infrastructure and employees in the region.
