Bogotá, Colombia – Zinobe, the leading online lender for the Colombian market, announced the closing of its Series A financing round led by QED Investors with participation of a local family office and existing investors.
Zinobe utilizes a data-driven approach to provide credit for underserved markets across Colombia. Lineru, the company’s short-term consumer loan product, was among the first 100% online credit products in the region when it was introduced in 2012. The company has received over 750,000 applications and has customers in every state within Colombia. Zinobe plans to use the proceeds of this investment round for new product development and to continue growing within the Colombian Market.
“We are extremely excited to work with QED and our other investors as we continue to scale and expand into new products,” said Tarek El Sherif, CEO of Zinobe. “It is the right time for us to leverage our experience with Lineru in other areas with the help of such experienced investors.”
This will be QED Investors first investment in Colombia although the firm has several investments in Latin America. “Not only are we excited about the opportunity to work with Zinobe, but we are also very excited to be in Colombia. The fintech market in the country has the potential for significant growth and Zinobe’s progress to date shows how a digital and customer centric model can gain traction,” said Mike Packer, Partner at QED Investors.
Zinobe operates in Colombia and develops online credit products for the consumer and small business sectors. The company is focused on using technology to provide the highest level of customer experience and automation to maximize operational efficiencies. Zinobe has developed a data centric credit model to help target underserved markets in Colombia. For more information, please visit www.zinobe.com, www.lineru.com.
About QED Investors
QED Investors is a leading boutique venture capital firm based in Alexandria, VA. They are focused on investing in early stage, disruptive financial services companies in the U.S., U.K. and Latin America. QED is dedicated to building great businesses and uses a unique, hands-on approach that leverages their partners’ decades of entrepreneurial and operational experience, helping their companies achieve breakthrough growth. For more information, please visit www.qedinvestors.com.