Tangelo signs partnerships with Dell Leasing and Clip to offer digital credit solutions for SMEs and consumers in Mexico and Latin America

• Tangelo specializes in helping companies in Latin America build and scale digital credit solutions for their customers, expanding access to credit and financial inclusion in the region.
• As a result of the alliance between Tangelo and Dell Leasing, the leading Mexican technology distributors and Dell's online customers will be able to access digital financing options for computer equipment to support their growth and access to technology.
• The agreement between Tangelo and Clip opens the door for hundreds of thousands of businesses in Mexico that use digital payments to access fast, simple, and 100% digital financing.

MEXICO CITY, March 29, 2022 /PRNewswire/ -- Tangelo, the technology company specializing in alternative credit solutions for Latin America, announced today partnerships with Dell Leasing, the global IT company, and with Clip, a leading digital commerce and payments platform that enables businesses in Mexico to interact and do business more effectively with their consumers through innovative technologies, best-in-class customer service, and the ability to digitally accept multiple payment methods. Clip has over 1,000 employees and offices in Mexico City, Guadalajara, Salt Lake City, and Buenos Aires.

With Dell Leasing, Tangelo has developed two credit lines. The first one is a working capital line, made available to the largest 100 wholesale technology distributors in Mexico, allowing them to finance their Dell purchases, a business that last year reported sales for over $280 million dollars in Mexico.

The second credit line is designed to finance online purchases on Dell's Mexican E-commerce site, a one-billion-dollar business in Latin America. This financing will be available for purchases under $10,000 dollars, thus boosting people's access to credit and technology throughout the region.

For Clip, Tangelo designed a credit feature called "merchant cash advance", which allows the hundreds of thousands of businesses that use Clip's payment terminals in Mexico to access 100% digital financing that can be paid down progressively through transactions made in their terminals.

Both agreements, which come just two months after Tangelo's official launch in Latin America, revolve around the technological capabilities and alternative risk assessment models that characterize the company's credit offerings. This allowed Tangelo to develop credit solutions tailored to Dell Leasing and Clip for their clients to access easy and inclusive real-time financing.

With this announcement, Tangelo reinforces its commitment to financial inclusion in Latin America, consolidating its business model based on strategic partnerships with large corporations in several sectors of the economy, bringing digital financing solutions to thousands of consumers and SMEs in the region. 

Ricardo Hoyo, Head of Corporate at Tangelo, commented: "These partnerships will have a positive impact on the region because hundreds of SMEs and thousands of consumers will be able to grow and access technology through financing solutions that would otherwise be difficult to have. In addition, the credit products that we operate today in the Mexican market can be easily replicated in Colombia and other Latin American countries that need digital credit solutions".  

Juan Pablo Unna, General Director for Dell Leasing, commented: "At Dell Leasing Mexico we are very pleased with the partnership signed with Tangelo as it will allow us to expand our offering of technology solutions to customers through financing. This will provide individuals with a flexible payment plan, and our distribution channels with additional credit lines that will give them greater purchasing power".  

Tangelo is a high-growth financial technology company specializing in developing and scaling alternative credit products and services for individuals and businesses in Latin America. Through its proprietary technology platform and advanced data analytics capabilities, Tangelo manages a diverse portfolio of customized products including point-of-sale financing, supply chain financing, asset-based lending, credit scoring as a service, and end-to-end white label digital credit solutions for numerous industries.

SOURCE Mexarrend, S.A.P.I. de C.V.

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