IDB Invest funds factoring for SMEs in Chile
IDB Invest funds factoring for SMEs in Chile
December 16, 2020 IDB s private sector division arranges a $107 mln loan for local financial services firm Tanner
LoansDebtStructured FinanceFundsChileUS IDB Invest, the private sector division of the Inter-American Development Bank (IDB) Group, has arranged $107 million in financing for Chile s Tanner Servicios Financieros to provide factoring services to small and medium-sized enterprises (SMEs).
IDB Invest contributed $36 million to the five-year loan and coordinated $50.8 million from commercial banks and institutional investors, including Bladex, Bancaribe, Banco de Occidente, BDH and responsAbility. The deal includes another $20 million fro
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Global Money Transfer Service Azimo and Payments Fintech dLocal to Facilitate Remittances from Europe, Australia to Colombia
Global money transfer service
Azimo has teamed up with payments focused Fintech firm
dLocal in order to allow migrant workers based in Europe and Australia to send funds to almost any bank in Colombia, which reportedly includes Banco de Bogota, Banco de Occidente, and Davivienda.
The new remittance service aims to offer a faster and more seamless user experience for Azimo’s clients, with fewer forms or documents to fill out. The funds transfer process is now a lot simpler, the companies claim. For instance, money transfers initiated by 1 pm GMT should arrive in the recipient’s bank account on the same business day.
Azimo to work alongside dLocal for payments service
Founder & CEO Daniel is Founder and CEO of FXcompared and FXC Intelligence and has 18 years of experience in the international finance world focusing on cross-border payments, technology and the property sectors.… Read more
Azimo, which is one of the most famous names in the online money transfer industry, will work with dLocal to assist those looking to send money home to South American countries such as Colombia.
Levels of bureaucracy associated with the sending of money are expected to go down as a result of the move, and transactions are expected to be sped up.