EXCELCREDIT: COMMITMENT TO FINANCIAL INCLUSION
THE BEGINNING In 2013 a group of young entrepreneurs decided to establish ExcelCredit. A Colombian Fintech that offers consumer loans to those unattended by the banks. The company started just like some of the biggest technology companies around the world: in a small house located in a small neighborhood in Bogota called Quinta Camacho. During this time, the founders managed to establish the loan origination operation in order to provide these consumer loans, the first clients were happily attended, and then they focused on growing the team in order to expand ExcelCredit nationwide. This was even worked on from the garage at that small house.
The growing demand forced the team to move to a larger house that became the first official headquarters of the company. This was a big step for those that were part of the start-up, all the hard work and efforts was paying off and the company was progressively strengthening every day. The team was very motivated to see its dream become a reality. At the very beginning, the Company faced significant challenges: i) starting operations in a market with important, large players, ii) the mistrust of government institutions in non- banking companies, and iii) the lack of knowledge from potential clients about Fintechs. Nevertheless, these obstacles motivated the founders to move forward and consolidate the company as a reliable alternative to the people in need of payroll loans.
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