Colektia, the fintech that seeks to transform the debt collection industry by empowering millions of people back into the financial system with the help of artificial intelligence, closed an equity and debt financing round, which allowed it to acquire a $72 million portfolio , the first of several that the company plans to purchase in the coming months.
This financing round, in which leading investment funds from Mexico, Europe and the United States participated, will allow the company to advance its main goal: to help people get out of debt and, at the same time, support financial institutions to improve the management of their overdue portfolios.
Gabriel Monroy, CEO and Cofounder of Colektia, explained that the portfolio acquisition was one of the main projects to be materialized during the first half of the year, and the recent acquisition marks an important milestone for the company because it represents a step towards realizing its mission of offering support to people with past due loans by offering them a new opportunity to reintegrate into the financial system.
“In Latin America, millions of people with debt find themselves listed in a credit default database , which prevents them from gaining access to financing to meet important goals such as purchasing a house, a car, or simply applying for a credit card. By acquiring these past due portfolios, we empower these individuals get out of debt, rebuild their credit history, and, in the medium term, obtain financing for their future goals,” Gabriel said.
To accomplish these goals, Colektia dedicated the last five years to developing their essential technology rooted in artificial intelligence, allowing them to understand the best strategies to help people resolve what they owe with more efficient, less invasive, and more human management.
Through the implementation of AI in debt collection management, Colektia demonstrates that it is possible to transform processes that, for years, have represented a real setback for the industry, reshaping the negative image it has had for decades.
Alivia: the second chance that everyone deserves
According to data from the Latin American Banking Federation (Felaban), there are over 60 million people in the region facing debt problems. Still, the reality is that these individuals do not find tailored solutions to help them settle their financial obligations, which is why Alivia was created, as a genuine solution for this issue.
“Thanks to the interaction that we have had in recent years with more than 15 million debtors, we’ve come to understand that they don't pay not because they don't want to but because they can’t. They don't find a solution that meets their needs. That is why we created Alivia, to give people a second chance to pay off their debts and reintegrate into the financial system,” Oswaldo Monroy, Colektia COO and Co-Founder, pointed out.
With this important financing, Colektia strengthens its purpose in Latam: to achieve the re-entry of thousands of people back into the financial system, allowing them to establish a positive financial track record and thus achieve their goals.