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§ Private Profile · Mexico City, Distrito Federal, Mexico
Fintech platform providing embedded lending infrastructure APIs for B2B companies in Latin America, managing underwriting and loan products.
AltScore is a Mexico City-based financial technology company that provides embedded lending infrastructure and APIs for businesses operating across Latin America. The B2B platform enables non-financial enterprises, including marketplaces, supply chain companies, and software providers, to deploy custom digital credit products by managing customer onboarding, underwriting, and loan collections. Operating with 32 employees, the enterprise software provider utilizes alternative data to help existing lenders increase loan origination rates by up to 30 percent. The company experienced a threefold increase in annual recurring revenue in 2023 while maintaining a burn multiple below one during the fourth quarter. Founded in 2021 by Andres Perez and Mateo Semerene, AltScore has secured over twelve million dollars in total funding, including an eight and a half million dollar Series A round, from institutional investors like Far Out Ventures, Caffeinated Capital, and Techstars.
Altscore has raised $13.4M across 3 funding rounds.
Altscore has raised $13.4M in total across 3 funding rounds.
Altscore has raised $13.4M in total across 3 funding rounds.
Altscore's investors include Haymaker Ventures, Andreessen Horowitz, AngelPad, InterWest, NFX, Octopus Ventures, Techstars, Emil Michael, Greg Kidd, Far Out Ventures, Monozukuri Ventures, Keith Masback.
Altscore has raised $13.4M across 3 funding rounds. Most recently, it raised $9.0M Series A in August 2024.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Aug 1, 2024 | $9M Series A | Haymaker Ventures | Andreessen Horowitz, AngelPad, InterWest, NFX, Octopus Ventures, Techstars, Emil Michael, Greg Kidd | Announced |
| Dec 1, 2022 | $4M Seed | FAR OUT Ventures | Monozukuri Ventures, Keith Masback | Announced |
| Nov 1, 2021 | $420K Seed | — | Techstars | Announced |
AltScore is a fintech company providing Lending-as-a-Service (LaaS) through APIs that enable businesses to launch end-to-end digital credit products, from onboarding and underwriting to loan management, collections, and renewals.[1][2][3][4] It serves non-lending companies seeking to become lenders and existing lenders aiming to originate more loans, particularly targeting underbanked individuals and SMEs in Latin America (LATAM), where over 270 million adults are unbanked and SMEs face loan rejection rates above 60%.[2][4] AltScore solves credit access barriers by using alternative data and AI-driven insights to boost healthy loan acceptance rates by 30%, helping clients like Coca-Cola, Grupo Arcor, Kalto, and Grupo Industrial Graiman increase sales up to 32% through embedded lending.[1][2][4] With headquarters in Mexico City and a small team under 25 employees generating less than $5 million in revenue, AltScore shows strong execution in fintech infrastructure.[3]
AltScore was founded by Mateo Semerene (CEO & Co-Founder, based in Quito, Ecuador) and an unnamed CTO, blending tech and business expertise to tackle LATAM's credit challenges.[1][3] The idea emerged from the need to digitize credit processes amid high unbanked populations and SME loan rejections, offering a "complete digital Rails of Lending" via APIs that integrate alternative data for real-time decisions.[2][3] Early traction came through partnerships like Techstars and investor Kamay Ventures, with praise for the team's product focus, scalability, and feedback execution; clients such as Kalto highlight AltScore's role as an agile credit operations extension.[1][2][4]
AltScore rides the LaaS and embedded finance wave in LATAM, where digital transformation addresses massive financial exclusion—270 million unbanked adults and 60%+ SME rejection rates—by bypassing traditional banks for transparent, API-driven credit.[2] Timing aligns with rising fintech adoption post-pandemic, fueled by alternative data and AI for inclusive growth; market forces like SME digitization and e-commerce expansion favor its model, enabling non-banks to monetize credit without expertise.[1][2][4] It influences the ecosystem by empowering fintech enablers, real estate, and B2B lending, fostering partnerships with giants like Coca-Cola and accelerating LATAM's shift to automated, data-rich underwriting.[2][4]
AltScore is poised to scale as LATAM's LaaS leader, expanding API modules for debt collection and KYC while deepening AI insights for even higher acceptance rates amid growing embedded finance demand.[2][4] Trends like SME digital lending and regulatory openness to alternative data will propel growth, potentially attracting more investors beyond Kamay Ventures and Techstars.[1] Its influence may evolve from infrastructure provider to ecosystem shaper, enabling thousands of businesses to unlock credit-driven revenue in a region hungry for inclusion—transforming non-lenders into world-class ones, just as its mission promises.[1][2]