What was the catalyst behind Camino Financial? Here’s a little background on Camino Financial from the CEO, Sean Salas, who leads the charge with with his twin brother, VP of Operations and Finance, Kenny Salas. Founded in 2011, CV’s Catalyst Fund invests in technology companies founded by underrepresented ethnic minority entrepreneurs with recent enterprise investments in Partpic, LiveNinja and Partnered. Join them in making a difference.Comcast Ventures’ Catalyst Fund invests in Camino Financial August 17, 2016Ĭomcast Ventures Catalyst Fund is proud to announce a seed investment round in Camino Financial, an online credit marketplace focused on lending to underserved minority-owned businesses. The odds for our Latinx borrowers are much worse. These are the same obstacles we’ve fought against for the last five years. But here we are. We’ll likely need to be 2-4x more capital-efficient than our venture-backed competitors, 98% less likely to get capital from venture capital investors, and 100% likely to be told we’re not smart enough. We’re in the business of building PATRIMONIO (“legacy” in english) for the Latinx market. We see credit as a critical piece of the puzzle to help Latinos build patrimonio and wealth creation. The untapped credit market for Latinx SMB market is estimated to be $6.8bn and growing faster than any other business segment in the U.S. We’re barely getting started. They’re taking pay cuts to fight injustice with us, and Camino intends to lead the movement.īuilding PATRIMONIO for the Latinx market We’re building a best-in-class team of engineers, data-scientists, executives, and other contributors who are hungry to make a difference for a just cause. For more on the $ 2.3 trillion Latinx contribution, click on the Latino Donor Collaborative GDP research report. Latinos disproportionately contribute to this amazing country, and it’s time they had the tools and the recognition to do even more. But there’s also a resilient community ready to support and to act. ![]() Times are tough for Latinos in this political environment. There’s frustration. Given our market focus, small dollars go a LONG WAY given Latinx micro-enterprises have been undercapitalized for many years with significant pent-up demand. Our target, for every $1M we deploy in loans, we will create 50 (fifty!) new jobs. ![]() We’re building a platform with the highest dollar/job creation ratio in the industry. Since launching our partnership with Crédito Real in September 2018, we’ve deployed over $30M in capital and growing monthly loan originations by 400% versus last year. ![]() Here’s what we’ve accomplished thus far, and what’s ahead of us. ![]() Special thanks to our partners at Credito Real, especially Luis Berrondo, who has joined our board of directors and spearheaded the launch of the largest financing vehicle for Latinx businesses in the U.S. If you’re reading this note, you have definitely contributed to Camino Financial achieving this massive milestone, whether it was a phone call, a like or share on social media, a word of encouragement, an introduction to someone helpful, or capital, you’ve made this dream possible. Check out and share this article featured on the Los Angeles Business Journal: It is our pleasure to announce the completion of our $8M series A round.
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