SAN FRANCISCO, May 25, 2021 —Payment fintech Tribal Credit rolled out a partnerships program with top B2B providers in Mexico, offering small and medium-sized companies in the country relevant discounts, perks, and access to the resources they need to grow and succeed.
The first phase of the program which went live on Thursday mostly serves the unique needs of e-commerce SMEs through partnerships with SkydropX, a package tracking and delivery logistics platform; LaPieza, a smart recruiting platform that eliminates bias; CINCEL, a digital signature solution with legal binding and smart functions; Pai, a platform that helps companies launch subscriptions; MD Partners, a financial consulting and CFO as a service firm; ElegirSeguro.com, an online platform that provides all types of business insurance; and Delta Protect, a cybersecurity and CISO as a service provider.
“These partnerships are uniquely designed to meet the needs of e-commerce SMEs in Mexico, helping them scale their business faster and maximize their impact,” says Duane Good, COO of Tribal Credit, which recently raised a $34.3 million Series A round in equity and debt led by QED Investors and Partners for Growth (PFG).
There are 62 million Latin America SMEs transacting globally every year, with the region representing a $15 billion market opportunity led by Mexico—Tribal Credit’s biggest market.
Customers of partners under this program will also enjoy perks from Tribal Credit, including discounts, fast-tracking, higher credit lines, and potential access to an elite cashback program.
Using a proprietary AI-driven approval process, Tribal Credit provides SMEs with virtual and physical corporate cards as well as a digital platform that allows founders and CFOs to manage the access and spend of their distributed teams.
Despite ever-growing needs to make cross-border B2B payments digitally post Covid-19, many SMEs in Mexico continue to experience difficulty getting approved for corporate cards through traditional banks.
Tribal Credit recently started issuing local business Visa cards in Mexico to enable SMEs to grow their business using higher credit limits and optimal interchange rates. The company also expanded payments and financing products to include Tribal Pay, helping customers settle non-card purchases and benefit from extended payment terms.
With expertise honed at leading tech companies and financial institutions, Tribal Credit’s leadership team of serial entrepreneurs, data scientists, and fintech execs have built and scaled startups in both emerging markets and the U.S. Amr Shady, former founder of TA Telecom, a telco payments startup with operations that expanded in six emerging markets; Duane Good, former HSBC EVP and founding member of eCapital Financial and MBNA International; Mark Graves of Marqeta Inc., Silicon Valley Bank, and the Financial Industry Regulatory Authority (FINRA); Mohamed Elkasstawi, founder of ZK Capital, a blockchain research firm; Omar Kamal, formerly of Mentor Graphics, IBM, Lucent Technologies and HP; and Ehab Zaghloul, co-founder of ZK Capital.
About Tribal Credit
Tribal Credit is a fintech company built for emerging-market SMEs looking for a better way to pay business expenses and optimize their financial management. The San Francisco-based startup provides modern payment methods like multi-currency physical and virtual business Visa cards and a powerful spend management platform to track and control expenses—all in one seamless interface. Founded by serial entrepreneurs, data scientists and fintech execs, Tribal Credit is on a mission to power SMEs’ growth in emerging markets to bridge the business financial inclusion gap in payments and financing. Tribal Credit is backed by QED Investors, Partners for Growth, BECO Capital, Global Ventures, Stellar Development Foundation, Endure Capital, 500 Startups, Endeavor Catalyst and OTG Ventures. The company is also part of the Visa Fintech Fast Track program among an elite group of fintechs.