Nelo Mobile, S.A. de C.V.

Based in Mexico, Nelo Mobile, S. A. de C. V.

specializes in providing innovative financial solutions, focusing on credit services designed to enhance consumer access to essential financial products. Nelo Mobile, S. A. de C.

V. was founded in 2019 in Mexico City, Mexico. The company focuses on delivering financial services primarily around credit solutions. Co-founded by Kyle Miller and Stephen Hebson, Nelo has successfully raised a total of USD 20.

00 mn across three funding rounds, with the latest being a VENTURE DEBT round where they secured USD 100. 00 mn from Victory Park Capital on September 10, 2022. Nelo offers a comprehensive suite of financial services tailored to meet consumer needs, primarily focused on credit solutions. The company's core products include instant credit approvals, personal loans, payment facilitation for essential services, and shopping solutions through both physical and virtual card options.

Nelo's platform enables users to complete their registration and obtain credit in as little as five minutes, fostering a streamlined user experience. The services cater to a broad client base, including individuals seeking to improve their credit history, make purchases across various retailers, and manage utility payments efficiently. Geographic markets served by Nelo extend beyond its local base, reaching consumers in Mexico and potentially other Latin American regions, emphasizing the accessibility and transparency of its financial offerings. Nelo generated revenue of USD 777,691.

70 in 2021, with an EBITDA amounting to USD -806,719. 70 that same year. The company generates revenue through its diverse range of financial products and services, primarily structured around consumer transactions. The platform facilitates instantaneous credit approvals for users, allowing them to make purchases and manage payments effectively.

Customers can utilize features like cash loans, which are disbursed directly to their accounts, and make payments for services such as utilities and mobile recharges. Nelo's business model includes direct-to-consumer transactions, where users may incur fees associated with credit usage or service payments. Additionally, Nelo offers premium services, such as the Nelo VIP program, which provides exclusive benefits to subscribers, contributing to the overall revenue stream of the company through enhanced user engagement and service utilization. In September 2022, Nelo Mobile, S.

A. de C. V. raised USD 100.

00 mn in VENTURE DEBT funding from Victory Park Capital. The company plans to utilize this funding to develop new financial products and enhance its existing services. Expansion into new markets within Latin America is also on the agenda, with specific strategies to reach additional consumers by 2024. This approach aims to broaden the accessibility of its financial solutions, reinforcing Nelo's commitment to serving a wider demographic.