# Covalto

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/covalto

- Industry: Financial Services
- Headquarters: Mexico City, Mexico
- Website: www.credijusto.com
- Total disclosed funding: $52M
- Latest round: Series B (Aug 28, 2019)
- Investors on record: 17

## About

Covalto, based in Mexico City, specializes in delivering innovative financial solutions for small and medium-sized enterprises (SMEs). Founded in 2014, the company focuses on enhancing financial access and operational efficiency for its clients.Covalto is a financial services firm dedicated to supporting small and medium-sized enterprises (SMEs) in Mexico. Founded in 2014 by Allan Pascal and David Poritz, the company has executed 10 deals and is led by CEO Mark McCoy and Rodrigo Cuellar. In October 2022, Covalto secured USD 200 mn in Venture Debt, raising its total funding to USD 30 mn, with investors including FIRA and the U.S. International Development Finance Corporation.Covalto, through its brand Credijusto, provides a variety of financial solutions tailored for SMEs in Mexico. Their offerings include term loans, equipment financing, and factoring services designed to improve business growth and cash flow management. This firm primarily services small to mid-sized businesses across sectors such as retail, manufacturing, and services, using local insights to effectively meet their financial needs.Covalto generates revenue mainly from interest income on its credit products and related financial services. Their business model involves direct B2B transactions, providing financing solutions like term loans to assist clients with immediate operational needs. Structured financing options are available, where clients repay through fixed monthly installments, ensuring competitive pricing that facilitates long-term partnerships with businesses requiring financial support.Covalto intends to leverage the recent USD 200 mn in funding to develop new financial products and expand its reach into additional markets within Latin America. The company is focused on enhancing its offerings to better serve SMEs and is poised to grow its operations in Mexico and neighboring countries. The funding will support these product innovations and acquisitions, allowing Covalto to strengthen its market presence by providing more comprehensive financial solutions.

## Funding rounds

- Series B, Aug 28, 2019, $42M — Thomvest Ventures, Wolfson Group, Goldman Sachs Asset Management, Calvert Impact, QED Investors, Kaszek Ventures, Broadhaven Capital Partners, Point72 Asset Management, Supernode Ventures, Argo Ventures, Third Lake Partners
- Series A, May 30, 2018, $10M — IGNIA Partners, QED Investors, Kaszek Ventures
- Seed, Jan 28, 2016 — Victory Park Capital, Supernode Ventures, City Hall Capital, M4Fund, Fourth Green Capital, Uprising Capital
- Seed, Jun 1, 2015 — Supernode Ventures

## Investors

- Supernode Ventures (https://capitalatlas.ai/funds/supernode-ventures) — Seed, Series B
- Victory Park Capital (https://capitalatlas.ai/funds/victory-park-capital) — Seed
- City Hall Capital — Seed
- M4Fund — Seed
- Fourth Green Capital — Seed
- Uprising Capital (https://capitalatlas.ai/funds/uprising-capital) — Seed
- IGNIA Partners (https://capitalatlas.ai/funds/ignia-partners) — Series A
- QED Investors (https://capitalatlas.ai/funds/qed-investors) — Series A, Series B
- Kaszek Ventures (https://capitalatlas.ai/funds/kaszek-ventures) — Series A, Series B
- Thomvest Ventures (https://capitalatlas.ai/funds/thomvest-ventures) — Series B
- Wolfson Group — Series B
- Goldman Sachs Asset Management (https://capitalatlas.ai/funds/goldman-sachs-asset-management) — Series B
- Calvert Impact (https://capitalatlas.ai/funds/calvert-impact) — Series B
- Broadhaven Capital Partners (https://capitalatlas.ai/funds/broadhaven-capital-partners) — Series B
- Point72 Asset Management — Series B
- Argo Ventures — Series B
- Third Lake Partners (https://capitalatlas.ai/funds/third-lake-partners) — Series B