Fairplay to Offer MX$4 Billion to Mexican SMEs in 2024

Fairplay, a Mexican e-commerce and retail financer, has announced it will offer MX$4 billion available throughout 2024 to support small and medium-sized enterprises (SMEs) in the country's increasingly competitive market. This initiative addresses the limited access to financing that many SMEs face, particularly during their early years of operation.

The assistance plan focuses on offering financial products tailored to the needs of entrepreneurs and business leaders and becoming an ally in supporting business growth by utilizing data intelligence to create strategies aligned with their objectives.

"It is time to double down on efforts to support the development of a sector that is already a valuable asset to the national economy. In Mexico, we have over 4 million SMEs. Over the past four years, we have been taking increasingly larger steps to provide these entrepreneurs with the financing and technology they need to grow and realize their true potential," said Manolo Atala, co-founder and CEO, Fairplay.

In addition to investing in retail companies with physical and e-commerce stores, Fairplay also works with other categories, including companies with sales on marketplaces like Amazon and Mercado Libre, apps with sales within these platforms, monthly subscription businesses, and direct-to-consumer (D2C) online sales companies. 

While the leaders of Fairplay do not rule out launching new products targeting different industries, they have established that the minimum criteria for companies seeking to work with them is having an average monthly revenue of at least MX$100,000, 12 months of consistent business metrics, and legal entity status or sole proprietorship with business activity. The application process is expected to take at most seven business days, depending on the setup of each data platform. Better-implemented platforms will facilitate faster processing.

Some brands that have benefited from Fairplay's offerings include Luuna, Gaia, Inova, Ferre Kuper, El Rey Ferretero, Dorothy Gaynor, Loly in the Sky, and FarmaZone. "We have analyzed thousands of businesses in the country, and our experience is based on that. This allows us to understand the industry and the challenges entrepreneurs face when scaling their sales," added Atala.