Greensill Capital acquires Columbia-based Omni LatAm in a landmark deal, aiming at accelerating growth in Latin America.
Greensill is a leading provider of alternative supply chain finance and though the price for the deal was not disclosed, but it will help the London-based company firm its root in the Latin America region, including Mexico and Brazil.
In a statement, the CEO of Greensill Capital, Lex Greensill says that the firm hopes that the acquisition of Omni Latam will be a “step change” in its services in Latin America since the market for working class finance in the region is worth $750 billion with an attractive market growth. In 2019, the firm provided $143 billion worth of financial services to over 8 million customers.
Founded in 2018 by Fintech innovators Diego Caicedo and Andres Abumohor, Omni has provided over $300 million in the working-class products for SMEs that supply big companies in Columbia and Chile.
As per the World Data Bank, Latin America accounts for over 20% of the global unbanked market through its small-and-medium enterprises.