MUNDO Finance gets equity investment from NCB Capital Markets

Recently launched provider of credit Mundo Finance, has partnered with NCB Capital Markets as an equity partner.

Through this partnership with NCB Capital Markets, MUNDO Finance will have the ability to scale and expand regionally, while ensuring a consistent source of funding.

Mundo Finance will offer creative and flexible terms on secured and unsecured loans to individuals, business owners and companies.

For companies, MUNDO will design short term loans to fund commercial transactions, working capital and other liquidity needs and for individuals, they will offer loans to employed persons as well as self-employed business owners.

Mundo Finance is already in discussions to acquire existing loan portfolios and is planning to list on the Jamaica Stock Exchange in the near future.

MUNDO Finance said it will offer an innovative approach to lending which starts with the customer in mind, offering competitive interest rates and an easy application process. Their product offering will include lease financing, insurance premium financing, payday loans, consumer credit, structured financing and trade financing.        

The brainchild of businessman Mark Mahfood, MUNDO Finance was created out of the need to provide pragmatic lending options for small businesses and individuals.

Mundo Finance has since recruited experienced entrepreneur David Lee to head the venture, which he has overseen from the incubation stage and now holds the position of CEO of the company.

With over 15 years of business experience in the areas of audit, investment management, business development and private equity, Lee has been charged with the leadership and management of MUNDO Finance. He has key responsibility for the direction and strategic objectives of the organization and maintaining relationships with all stakeholders.

When asked, what would make Mundo Finance different from other companies Lee stated, “We have hired the best talent and invested in the latest technology, so our loan products will be innovative, our service will be efficient and our approach to lending will be effective. By leveraging the resources of the NCB Group, we will tailor solutions for our clients that no other micro finance company will be able to match.”

CEO of NCB Capital Markets, Steven Gooden said the partnership will enhance the bank’s capacity to provide alternative financing solutions, especially to the SME and micro sectors.

“With a private equity play, the strategic synergies are clear as MUNDO Finance will leverage aspects of our infrastructure and regional foray to benefit those served,” Gooden said.

This initiative follows shortly on NCB Capital Markets’ partnership with Eppley Limited to create the Caribbean Mezzanine Fund, the first of its kind to focus on the region and can be described as a flexible, adaptive form of capital – sharing characteristics of both debt and equity financing.  NCB Capital Markets is a leading wealth management and investment bank with subsidiaries in the Cayman Islands, Trinidad & Tobago and Barbados.

MUNDO Finance has already built a team of financial experts that have the experience and talent to solve the funding needs of their clients and will invest time and professional attention in every loan that they deliver.

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