Sat, Nov 23 2024
Ziff, a company from Mexico, has purchased Arrenda, a company that finances real estate based on revenue.
Ziff intends to expand the distribution of Arrenda's primary offering, Adelanta, a financing solution tailored to the needs of owners of commercial rental properties based on their existing lease agreements, after the acquisition.
Arrenda was founded in 2022 and provides up to 36 months of future accounts receivable to businesses with regular revenue throughout Latin America.
The creator of Ziff, Gerardo Name, outlines the reasoning for the purchase: Ziff's well-established lending infrastructure combined with Arrenda's state-of-the-art technology will allow us to quickly expand into new market segments and improve our product offering. Our objective is to give over $1 billion to SMEs by the end of 2027, fostering their expansion throughout Mexico," Name stated.
Chief technology officer Joe Merullo, the creator and CEO of Arrenda, will become a member of Ziff's executive team.
"This transaction's completion represents a significant turning point for Mexican SMEs; the days of having to wait months to start bringing in steady income are gone. We at Ziff are radically transforming the funding landscape for Mexican companies. The SME finance sector will undergo a revolutionary shift as a result of the synergies formed between Arrenda's technology and Ziff's industry experience, the speaker claims.
Leave a Comment