Digitt Lands $50M Credit Facility for Mexican Debt Refinancing

Fintech innovator Digitt has secured a substantial $50 million financing facility from alternative investment firm Victory Park Capital. This strategic capital infusion is earmarked to accelerate Digitt's expansion of its credit card debt refinancing services for consumers across Mexico. The company, founded in 2019, targets prime borrowers grappling with exceptionally high annual interest rates, often ranging from 70% to 150% on existing credit card balances.

The newly acquired funding will empower Digitt to broaden its reach and enhance its capacity to offer transparent, fixed-rate installment loans. These products are designed to provide significant relief by consolidating and refinancing burdensome credit card debt at more manageable rates. This initiative directly addresses a critical need within the Mexican consumer credit market, where such high-interest debt can severely impact household financial stability.

Digitt's operational model, inspired by co-founder and CEO David García's personal insights into the Mexican credit landscape, emphasizes technology-driven underwriting and servicing. The company is committed to reinvesting in its technological infrastructure and refining its risk assessment capabilities to support its scaling operations throughout Mexico. This focus on innovation is key to achieving its overarching mission of reducing the cost of credit for Mexican consumers.

Victory Park Capital, a firm with a strong track record in private credit and asset-backed finance, brings significant expertise to this partnership. The Chicago-based firm, which became a majority-owned affiliate of Janus Henderson Group in 2024, provides tailored capital solutions. Its involvement underscores the growing investor confidence in scalable fintech models addressing specific market inefficiencies.

The Mexican fintech sector is experiencing robust growth, driven by increasing digital adoption and a large unbanked or underbanked population seeking accessible financial products. Companies like Digitt are capitalizing on this trend by leveraging technology to offer more equitable credit solutions. The market for consumer credit refinancing in Mexico represents a significant opportunity, with millions of individuals potentially benefiting from lower interest rates and improved financial management tools.

This facility from Victory Park Capital is expected to significantly bolster Digitt's market position. As Digitt continues to scale, its ability to offer affordable, flexible, and predictable credit products will be crucial. The company's commitment to responsible lending and borrower outcomes, as highlighted by CEO David García, positions it as a key player in reshaping the consumer finance ecosystem in Mexico.

Jason Brown, Senior Partner at Victory Park Capital, commented on the strategic alignment, noting Digitt's differentiated platform and its capacity for high-quality growth. He emphasized the company's potential to deliver substantial financial benefits to creditworthy consumers in an expanding market, reinforcing the investment thesis behind this significant credit facility.