FinMaq: US$6.5M Series A to finance machinery for Colombia's small businesses

FinMaq, a Colombian fintech that finances machinery and equipment for small businesses and independent workers, raised a US$6.5 million Series A, according to LatamList. Accion, the U.S.-based financial inclusion organization, led the round. Spain-based Mundi Ventures joined as a new investor, while existing backers ALIVE Ventures and 30N Ventures also participated. FinMaq was co-founded by Diego Sanz de Santamaría, its CEO, and Diego Acero, its CFO, according to Portafolio and Contxto.

FinMaq works with equipment distributors to offer loans, leasing with a purchase option and aftersales services. Its digital platform uses credit models built to assess customers with thin or no credit history. The company says it has disbursed more than US$100 million to over 1,600 clients since 2019. It plans to use the new capital to enter new rural and urban business segments, with a goal of passing US$200 million in cumulative disbursements and serving 5,000 more clients over the next 18 months, according to LatamList.

Market Context

Small and micro businesses account for more than 99% of companies in Colombia, 79% of jobs and about 40% of GDP, according to OECD figures cited in the announcement. Around 40% of them lack access to financing for the equipment they need to grow. FinMaq says half of its clients are rural and 40% are women-owned businesses. An independent survey by impact measurement firm 60 Decibels found that 72% of clients financed productive equipment for the first time through FinMaq, and 83% reported higher productivity afterward.

The round follows a US$29 million pre-Series A in January 2025 that mixed debt and equity. ALIVE Ventures led the equity portion, and Accial Capital and Iris Bank provided credit lines, according to LatamList. At that time, FinMaq reported just over US$30 million disbursed and about 550 clients. Other lenders are chasing the same gap: in March 2026, IDB Invest extended up to US$12 million to Colombian leasing company Rentandes to finance machinery and trucks for small businesses in transport, construction and agribusiness.

What Stands Out

"Productive assets like an industrial oven, construction equipment, or a delivery truck can transform the money-making ability of a small business, but for many in Colombia a lack of affordable credit keeps them out of reach."

John Fischer, Chief Investment Officer, Accion (via Contxto)

Regional Relevance

In the U.S., equipment financing is a mainstream industry. Manufacturers such as John Deere and Caterpillar run their own finance arms so dealers can sell machines on credit. FinMaq is adapting that dealer-linked model for a market where most small buyers have no credit file. Accion's decision to lead this round shows U.S. impact capital still sees asset-backed lending to small businesses as a scalable category in Latin America.

There is also a trade angle. Many of the trucks, ovens and construction machines financed in Colombia are imported. Better credit access for small buyers can widen the customer base for equipment makers and distributors, including U.S. brands.

For Colombia, the gap is structural. Banks lend mostly to larger firms with collateral and financial statements, leaving farmers, workshops and small contractors to rely on savings or informal credit to buy equipment. A lender that splits its portfolio evenly between rural and urban clients goes straight at the gap the OECD describes. If FinMaq reaches its 18-month goal, it would become one of the more relevant private sources of productive credit for Colombian small businesses outside the banks.

The Other Side

Can US$6.5 million in equity support US$100 million in new lending? Not on its own. A lending business grows its loan book with debt, not equity. The Series A strengthens the balance sheet so FinMaq can raise larger credit lines, but the announcement names no new debt facility. Reaching US$200 million in disbursements depends on lenders increasing their exposure, and none of that has been disclosed.

How healthy is the loan book? Accion says FinMaq's default rate is "below the industry average" but gives no figure. Portafolio reports an active portfolio of about COP 200 billion and roughly 1,000 active clients, but there is no public data on delinquency, losses or profitability. The CEO also told Portafolio the company has faced "a lot of fraud attempts in recent months," a real risk for a lender serving clients with no credit history.

How solid are the impact numbers? The 72% and 83% figures come from a client survey, which captures self-reported outcomes rather than audited results. The claim that each financed machine creates one new formal job was not independently verified. Valuation and the size of each investor's check were not disclosed.

Sources & Transparency

• Colombian fintech FinMaq raises $6.5M Series A
• Finmaq, una fintech que financia la compra de maquinaria productiva, consigue nueva inversión de US$6,5 millones
• FinMaq recibe $6,5 millones de dólares para financiar maquinaria a pequeñas empresas en Colombia
• Fintech colombiana FinMaq levanta US$ 6,5 millones en su Serie A para financiar maquinaria y equipos de pymes
• FinMaq cierra Serie A de US$6,5M para financiar maquinaria de pymes en Colombia