Chilean SME financing deal opens up new territory for international investors in Latin America

SMEs account for nearly 99% of businesses in Latin America and generate over 60% of formal employment. In Latin America, however, SMEs often face challenges securing the financing they need to grow and thrive. The high failure rate among these enterprises is a direct consequence of limited access to capital which stifles their potential for growth, innovation, and job creation.

Fortunately, a groundbreaking $10.6million funding deal facilitated by Delphos is set to rewrite this narrative, bringing hope to Chile’s SME sector and potentially creating a ripple effect across the region.

Landmark deal

Maxxa, a Chilean fintech dedicated to serving SMEs, recently closed a $10.6million transaction with Symbiotics, a Swiss-based impact-focused fund manager. The deal, facilitated by Delphos, represents a significant milestone for Maxxa as it strengthens its capacity to provide long-term loans with maturities of up to three years. This funding will allow Maxxa to expand its reach across Latin America, thus addressing one of the region’s most pressing economic issues: the lack of accessible financing for SMEs.

Commenting on the deal, the CEO and Chairman of Delphos, Bart Turtelboom, noted that Maxxa's innovative approach to SME funding positions the company as a leader in financial inclusion.

“We recognize Maxxa’s innovative approach to SME funding, which has positioned the company as a leader in financial inclusion. We foresee ripple effects throughout Chile’s NBFI (non-bank financial institution) business landscape. It sends a positive signal to both domestic and international investors about the vitality and potential of Chile’s SME sector,” said Turtelboom.

SME financing in Latin America

SMEs account for nearly 99% of businesses in Latin America and generate over 60% of formal employment. Despite their importance, these enterprises often face a severe funding shortfall. Traditional financial institutions frequently deem SMEs too risky, citing insufficient credit histories, lack of collateral, and volatile market conditions. This financing gap not only stymies individual businesses but also hampers economic growth and innovation across the region.

The problem is particularly acute in Chile, where SMEs struggle to access loans with reasonable terms. Long-term financing —like the three-year loans offered by Maxxa—is virtually unheard of for small businesses. Without access to affordable credit, many SMEs are forced to rely on high-interest, short-term loans, which can lead to a cycle of debt and eventual business failure.

Cristian Sauterel Durán, the CEO of Maxxa, acknowledged believes the $10million deal is significant for other SMEs. “This represents a pivotal moment not just for Maxxa but for the entire SME sector in the region. By strengthening our capacity to provide long-term loans at favourable terms, we’re setting the stage for unprecedented growth and stability for our clients.”

It should be noted that this landmark deal aligns with the United Nations Sustainable Development Goal (SDG) 17, which emphasises partnerships to achieve sustainable development. By connecting Maxxa with international capital markets, Delphos and Symbiotics are fostering a collaborative approach to tackling the region’s financing gap—a critical step toward achieving long-term economic resilience.

International investment opportunities

These deals aren’t just good business for the local recipients, they also offer an large market for international investors and advisors. Take Delphos, as a global leader in arranging innovative financing solutions, the company has a proven track record of bridging the gap between local businesses and international capital markets. By leveraging its expertise, Delphos ensures that impactful initiatives like Maxxa’s SME funding model receive the financial backing they need to succeed.

Bart Turtelboom of Delphos explained the broader vision: “At Delphos, we are committed to empowering local businesses and fostering financial inclusion. This deal demonstrates how strategic partnerships can unlock capital for underserved markets, driving sustainable economic development.”

Impact finance investor Symbiotics, also played a crucial role in the transaction by connecting international investors with local opportunities in emerging markets. The fund manager’s mission is to advance financial inclusion and economic resilience in underserved regions, making it a perfect partner for this initiative.

Jérôme Birolini, Symbiotics’ Regional Manager for Latin America, highlighted the organization’s commitment to transformative solutions: “At Symbiotics, we are dedicated to unlocking capital for impactful initiatives in emerging and frontier markets. Partnering with Maxxa and Delphos allows us to create meaningful solutions that empower SMEs and strengthen economic growth in Chile.”

Symbiotics’ involvement ensures that the funding aligns with global best practices in impact investing, maximising the potential for positive social and economic outcomes.

More deals to come?

The impact of this funding is expected to extend far beyond Maxxa and its clients. By demonstrating the viability of SME-focused financing models, the deal sets a precedent for similar initiatives across Latin America. It also sends a powerful message to both domestic and international investors about the potential of the region’s SME sector.

Chile’s non-bank financial institutions stand to benefit as well. As Bart Turtelboom noted, the transaction could catalyze innovation and growth within the broader financial ecosystem, encouraging other lenders to explore more inclusive approaches to SME financing.

Through this groundbreaking collaboration, Maxxa, Symbiotics, and Delphos are redefining the landscape of SME financing in Latin America. Their efforts provide a blueprint for sustainable economic growth and financial inclusion, demonstrating how strategic partnerships can address even the most entrenched challenges.

For SMEs in Chile and across the region, this deal represents more than just funding—it’s a lifeline. By unlocking access to long-term, affordable credit, Maxxa is empowering entrepreneurs to build resilient businesses, drive innovation, and contribute to their communities.

In a region where SMEs are often overlooked, this $10.6 million transaction serves as a powerful reminder of what’s possible when vision, expertise, and collaboration come together. The future of Latin America’s SMEs has never looked brighter.