Digitt Raises $50 Million Financing Facility to Expand Refinancing Operations in Mexico

Mexico-based fintech company Digitt has secured a $50 million financing facility to support the expansion of its credit refinancing business and strengthen its lending infrastructure.

The financing was provided by global alternative investment firm Victory Park Capital.

Funds to Support Portfolio Expansion

Digitt plans to use the capital to grow its credit card debt refinancing portfolio across Mexico. The company will also invest in its underwriting technology and improve its automated servicing systems.

In addition, the funding will help the company enhance operational efficiency as demand for refinancing products continues to grow in the region.

Focus on Consumer Debt Refinancing

Founded by David García, Digitt operates a digital lending platform focused on helping consumers refinance high-interest credit card debt.

The company provides fixed-rate installment loans designed for Mexican consumers seeking alternatives to expensive revolving credit products. According to the company, some credit card interest rates in the market can range between 70% and 150% annually.

Digitt says its platform uses proprietary algorithmic underwriting technology to assess borrowers and streamline the lending process.

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