Rapicredit.com

Rapicredit.com

December 26, 2021

The Colombian company Rapicredit.com (Compañía de Créditos Rápidos SAS) was established in 2014 as Colombia’s second online lender in the area of small loans.  Rapicredit is owned by an American company, Credimax LLC, and offers its financial products 100% online.  It aims at the general public and promotes access to credit to drive financial inclusion, while its main focus on Colombia´s middle class (about 20 million people) that has been underserved by traditional financial institutions. The company is based in Bogota but its R&D team is in Medellin. Today, it has more than 100 internal and over 30 external employees.

Historically Rapicredit has provided short-term consumer loans with repayment terms ranging from 5 to 150 days and principal amounts between €20-100.  Since 2020 the company has launched RapiPlazo, an installment loan, with term from 3 to 6 months and from €100 up to €400.  It will continue expanding its product portfolio and launching new solutions related to POS, Salary Advance and Buy Now Pay Later. The company uses a sophisticated automated system that assesses data from several external sources and combines them with the verified data from the clients’ applications, credit bureaus and social security databases.  In 2021 itself, Rapicredit provided more than 670 thousand loans in the total amount of EUR 27.3 million. The company’s size has been almost doubling year after year since its launch in April 2014 and reached a total of +1.5 million loans in an amount exceeding EUR 69 million by December 2021.


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