Peruvian fintech Prestamype will receive financing from IDB Lab, the innovation laboratory of the Inter-American Development Bank (IDB), to improve access to credit for local micro and small businesses, driving financial inclusion. Prestamype offers a financing solution that combines mortgage guarantees with the use of technology to optimize the process.

The 2-million-dollar IDB Lab’s loan will allow the fintech startup to expand the financing offer, strengthen its lending capacity, improve credit conditions and multiply the number of companies that receive a first formal loan. Additionally, Prestamype will expand its geographic coverage outside of Lima.