Mexican fintech company delt.ai Secures Debt Financing by Processing $25M in Digital Assets

Mexican fintech company, delt.ai  has announced it is processing the equivalent of $25M in debt financing from TrustToken.

The statement is a first-of-a-kind because the financing is done purely in digital assets, specifically in crypto.

delta.ai is a Y Combinator-backed software company that focuses on financial tech, building software that helps businesses make their day-to-day financial management easier, from corporate expenses to eCommerce and digital platforms, and more.

The company launched in Mexico City in 2019 and was part of the Y Combinator accelerator program in San Francisco in 2020.

That same year, they launched a corporate card in Mexico. This new line of financing of $25M will be processed through a decentralized finance platform (DeFi) of TrustToken, which is the operator of the stablecoin cryptocurrency TrueUSD. 

The protocol through which this financing takes place is TrueFi: the first-ever blockchain lending marketplace, launched by TrustToken.

This event marks a new type of debt financing strategy in Latin America, where DeFi is brought together with traditional finance.