Fairplay, the Mexican fintech that provides working capital to e-commerce platforms in Mexico, recently announced a new $35 million credit line granted by BBVA Spark.
The new financing marks a fundamental step in Fairplay’s development, consolidating its position as a key partner for the growth of Mexican SMEs, the company said. Its focus is particularly on the retail sector, both wholesale and retail, covering both physical and digital channels, including e-commerce and marketplaces.
“This backing from the country’s largest banking institution reinforces our commitment to continue offering innovative solutions that drive the growth of Mexican SMEs, the real drivers of our economy,” said Andrew Devlyn, co-founder of Fairplay.
Devylon founded the startup along with Manolo Atala, Marcela Cardenas, Fernanda Bustani and Javier Lizardi.
Support for SMEs in Mexico
BBVA Spark provides financing tailored to market demands. “We are pleased to support Fairplay in its mission to offer innovative credit solutions to Mexican SMEs with great potential,” said Rodrigo Velasco, Head of BBVA Spark in LatAm.
From its first raise with Architect Capital in 2021 for $20 million, to the $100 million facility with Community Investment Management (CIM) in 2023, Fairplay seems to prove its robust platform can execute.
Through its working capital platform, Fairplay continues to demonstrate that financial solutions tailored to the needs of the most dynamic businesses are critical to economic growth and stability.