Google spearheads fintech R2’s recent raise

R2, a Latin American integrated lending fintech, has acquired a US$15 million Series A investment from Google’s AI-focused venture fund.

Just seven months after finishing a seed round, the Latin American integrated lending fintech R2 has raised US$15 million in a Series A investment round that was led by Google’s AI-focused venture fund, Gradient Ventures.

With the help of R2’s APIs, the Mexico City-based startup’s white-label offering enables companies to quickly integrate lending experiences into their digital platforms. The fintech has financed over 3,000 small businesses over the past year, worked with some of the biggest digital platforms in the area, and increased monthly income by a factor of more than 20.

The fintech intends to hire more people for positions in engineering, product development, data and risk, finance and compliance, and new business using the most recent capital round. Along with some angel investors, new investors PayU and Femsa Ventures are also participating in the Series A round. It leaves R2 valued at $100 million.