CNBV Authorizes Trafalgar Sofipo Targeting SME Credit Gap

The National Banking and Securities Commission (CNBV) has officially granted authorization for Trafalgar to commence operations as a Popular Financial Society (Sofipo). The entity aims to provide access to credit and financial services for SMEs across Mexico.

The resolution, issued by CNBV's Vice Presidency of Regulations and General Directorate of Specialized Authorizations, confirms that Trafalgar meets all necessary technical, capitalization, and corporate governance requirements under the Popular Savings and Credit Law (LACP). The document states the institution possesses the minimum capital and corporate structure required to operate under high standards of supervision and financial security.

Trafalgar, which will operate from its headquarters in Santa Fe, Mexico City, is led by Raúl Triay,  CEO, former Director of Systems and Operations, BanCoppel, and Finance Director Michelle Vivanco of Trafalgar Asset Management. The group's mission is to close the credit gap affecting Mexican SMEs.

The group driving the project is led by Porfirio Sánchez-Talavera, an entrepreneur with presence in regulated sectors in Mexico and the United States. In 2023, Sánchez-Talavera's group executed the sale of Trafalgar Digital IFPE to Walmart Inc.

Trafalgar joins the 33 officially authorized Sofipos currently operating in Mexico. The entity previously obtained initial authorization in 2023 under the name Haai Capital. The company seeks to offer SMEs, particularly those in the services and foreign trade sectors, credit products, liquidity management, and digital solutions previously exclusive to large corporations. The Sofipo will leverage a model based on artificial intelligence and advanced analytics.

Trafalgar noted in a statement that Mexico has over 5 million SMEs, responsible for 52% of national GDP, yet only one in four has access to formal credit. Trafalgar enters the market with the goal of breaking this structural barrier and facilitating growth for this segment, which is described as the backbone of the national economy.

The company underscored its commitment to high international standards in anti-money laundering, information security, and corporate governance, aligned with CNBV regulatory demands.