Digitt, a Mexican fintech focused on credit card debt refinancing, secured a $50M credit facility from Victory Park Capital.
Founded in 2019, Digitt helps prime borrowers refinance high-interest credit card debt through fixed-rate installment loans. Co founder and CEO David García launched the company after seeing how Mexico’s consumer credit market leaves many borrowers facing annual interest rates between 70% and 150%.
Digitt will use the facility to expand its loan portfolio while strengthening its underwriting, technology, and loan servicing capabilities.
“This facility strengthens our ability to help more Mexican consumers reduce the burden of high interest credit card debt while continuing to scale a platform built around transparency, responsible underwriting, and better borrower outcomes,” said David García, cofounder and CEO of Digitt.
Source: LatamList
