10/17/2023 2:29:05 PM | less than a minute read

Mexican auto financing platform Nexu raises $20m

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Sarah Wolter

Get in touch

Sarah Wolter

Congratulations to FTC portfolio company Nexu on the announcement of their $20m Series B financing led by Valor Capital Group. In addition to the Series B round, the company has also raised a debt facility from HSBC. Other investors include Fintech Collective, Endeavor Catalyst, Altos Ventures, Wollef, Squareone, Clocktower Ventures, Gilgamesh, FJ Labs, Ivernet and Capem.

"When you apply for financing at a car dealership [in Mexico], you need to wait on average three days, but at least a day to get a response," says Nexu co-CEO Abdon Nacif. "So it's a very bad experience for the car buyer, which provides a lot of uncertainty."

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