Digitt, a Mexico City-based fintech refinancing platform addressing Mexico’s double- and triple-digit credit card rates, has raised a $10 million Series A round led by Yolo Investments. The round also included IGNIA Partners and Capria Ventures, along with individual investors.
Digitt is focused on Mexico’s underserved middle class and overlooked borrowers. Over the past three years, the company has grown its loan book more than 10-fold while maintaining default rates in the low single digits.
Seattle-based Capria Ventures, which invests in early-stage companies and fund managers across emerging markets, backed Digitt as part of its strategy to scale tech-driven solutions for underserved consumers. Capria said Digitt could become “the Amex for LatAm’s middle class — a financial brand that earns trust and loyalty through better experiences, not just better rates.”
Responsible lending
Mexico’s banking system is among the most profitable in the world, but it remains highly concentrated, with the top five banks controlling more than 80% of the market. High interest rates — ranging from 50% to 150% APR — hit the country’s middle and lower classes alike.
Digitt is carving out a unique position in this market. The company refinances credit cards with structured loans at significantly lower rates, proving that profitable lending doesn’t require these predatory interest rates. Rather than chasing the crowded subprime market, it serves the creditworthy but overcharged middle class.
The platform has developed a rigorous underwriting process that blends bureau data with automated parsing of complex PDF bank statements, giving it an accuracy and efficiency advantage over legacy players.
Digitt keeps costs low by using artificial intelligence to streamline internal workflows and relying on social media content for customer acquisition.
