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Mexico, Financial Services
Entrepreneurs Diego and Oswaldo are putting a new spin on an old market. With Lo Mio es TUYO (TUYO), the two entrepreneurs are professionalizing the purchase and sale of pre-owned goods in Mexico, an industry that historically has been limited to pawn shops and outdoor markets. TUYO buys small household goods and electronics from customers or third-party businesses and re-sells them in stores in and around Mexico City. Through their fair prices, stringent quality checks, and strong customer service, these young entrepreneurs are providing Mexico City’s lower and middle income shoppers with a channel through which they can confidently purchase lightly used goods. For Diego and Oswaldo, the opportunity doesn’t stop in their hometown: the duo have ambitious expansion plans to become the leaders in Mexico’s pre-owned goods industry, a market they estimate to be worth US$26 billion in 2011.
Lo Mio es Tuyo was acquired and Diego started another venture call Creze:
Creze is a financial services firm that provides online and unsecured short term loans to SMBs in Mexico.
We use high technology and digital information to improve the risk management in order to be able to underwrite loans for SMBs quickly and efficiently.
Our clients range from small stores to mid-size companies from all industries that are financially underserved in the current financial system.
We work with commercial partners that offer other products and services to SMBs (generally technological products such as e-commerce, cloud ERPs, online accounting and e-invoicing) to reach a segment of clients that is more sophisticated from a technological and financial information point of view.
Our loans range from USD 3K to USD 60K with terms from 1 to 12 months.
Creze is backed by international Venture Capital firm Mountain Partners, and with a market size in the tens of billions of dollars, the Creze’s team is deeply motivated in helping these businesses to free their potential through access to financing.
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