AlphaCredit

AlphaCredit combined two product lines: SME working-capital finance through receivables factoring and equipment leasing, and consumer installment loans under its 'Creditea' brand. The firm underwrote using proprietary algorithms that ingested bank transaction data, tax authority records accessed with borrower consent, and behavioral analytics — an unusually deep data stack in the Mexican market during the 2010s.

SoftBank's Latin America Fund led a $125 million Series B round in 2019, which at the time was one of the largest fintech equity checks in Mexico. Victory Park Capital, a Chicago-based asset manager, provided a $100 million credit facility that same year. SoftBank ultimately wrote its ~$200 million total exposure to zero following the 2021 default (per Bloomberg, 2021).

The firm defaulted on corporate bonds in April 2021 after discovering what it described as a $30 million accounting discrepancy in its Mexican loan book. The CFO resigned, and warehouse lenders froze credit lines. Without deposit insurance, AlphaCredit could not fund ongoing operations, leading to a Chapter 15 bankruptcy filing within weeks.

Yes. In 2019, AlphaCredit acquired ViveCrédito, a Colombian fintech lender, expanding its algorithmic SME and consumer credit model to Colombia. The Colombian operations were also caught in the 2021 restructuring when the parent entity filed for bankruptcy.

AlphaCredit integrated real-time access to SAT tax authority records with borrower permission, giving it visibility into SME cash flows that traditional banks, reliant on credit bureau scores and paper documents, lacked. An in-house engineering team of over 200 people maintained the scoring, collections, and disbursement infrastructure.