Wolet offers a lending solution that integrates with payment processors and point-of-sale systems. This integration enables the analysis of business transactions to understand the operational flow of SMEs, thus providing customized lending solutions for SMEs.
“We integrate with (payment) platforms to offer financing to SMEs and become their financial allies in their development, growth and consolidation… at the same time we are in full development of BNPL technology (Buy now – pay later) to help SMEs increase their sales and generate more customers. In 8 months of operations, we managed to empower nearly 1,000 SMEs and plan to reach up to 1,500 SMEs with Wolet funding by the end of the year. In 5 years, we want to reach up to 100,000 SMEs,” said Mario Cruz Aguilarco-founder of Wolet.
Wolet has partnered with VendeMás de Niubiz in Peru and is in the process of partnering with other leading companies in Latam. According to Cruz Aguilar, they are very interested in moving in the next 12 months to Colombia, Chile, Ecuador and Bolivia, hand in hand with the best partners in Latin America.
Wolet operates as a lending-as-a-service (LaaS) fintech that enables fintech-integrated platforms to provide capital to SMEs. The loan granted by Wolet is revenue-based, backed by daily sales, transaction data, periodicity, among other data, and takes a percentage of its sales for the collection of its payment fees.
The co-founders of Wolet are also the founders of Kontigo, a fintech founded in 2016 and accelerated by NxtpLabs. The rest of the management team brings together experts in fintech, edtech and comes from companies like Uber, Global66, Diners, etc.