Ant Worldwide is deepening its push into Latin America with a strategic funding in R2 to develop credit score entry for SMEs in a area dealing with a niche of greater than US$1 trillion. Monetary particulars weren’t disclosed.

The partnership builds on Ant Worldwide’s expertise in digital finance and R2’s embedded lending know-how.

R2’s API-based, white-labeled system permits retailers to entry financing straight throughout the platforms they already use, together with point-of-sale programs, cost processors, marketplaces and e-commerce platforms.

Ant Worldwide mentioned the transfer follows the SME working capital options it launched earlier this yr in Brazil by means of its World Credit score Providers unit.

R2 will proceed deploying its examined lending infrastructure and market-tailored credit score choices, whereas Ant’s AI-powered threat and credit score instruments are anticipated to boost underwriting and decrease borrowing prices for SMEs.

Based in 2020, R2 operates in Mexico, Chile, Colombia, Peru and Brazil.

Its revenue-based financing mannequin, utilized by main digital platform companions corresponding to inDrive, Uber Eats, Rappi, Haulmer and PayU, has supported greater than 100,000 SMEs in LATAM, the place solely about 13% of small enterprise credit score demand is met by banks and fintech corporations.

“Partnering with Ant Worldwide is a defining step in R2’s journey.

Collectively, we are going to mix world-class threat administration, AI-driven underwriting, and capital to carry inclusive credit score at scale – empowering tens of millions of small and micro companies whereas conserving true to our mission of constructing entry to finance frictionless on the level of want.”

mentioned Roger Larach, Co-Founder and Chief Govt Officer of R2.

“R2 has been clear in its mission and drive to help SMEs – the spine of LATAM’s financial system – from day one, underpinned by its founders’ deep understanding of the difficulties confronted by small companies, and a powerful perception in overcoming these challenges with a digital-first method.

With this shared dedication to inclusive development, we’re assured that we will speed up entry to alternatives for companies within the area by turning cutting-edge applied sciences into actual, sensible financing options.”

mentioned Quan Yu, Normal Supervisor of World Credit score Providers, Ant Worldwide.

Featured picture: (From left) Roger Larach, Co-Founder and Chief Govt Officer, R2; Quan Yu, Normal Supervisor of World Credit score Providers, Ant Worldwide; Roger Teran, Co-Founder and Chief Knowledge Officer, R2