– COSTA RICA, San Jose – Rayo Credit announced a new USD$2 million funding led by Dale Ventures which committed to funding the company’s expansion to Colombia.
Seven years after Dale Wood, founder and CEO, Dale Ventures, became the lead investor of Costa Rica’s Rayo Credit, his global investment firm has invested an initial $2 million USD for expansion with the potential for up to $5 million USD.
Founded by identical twin brothers Bernardo and Pablo Arce, Rayo Credit allows people and businesses to apply for short-term loans with little paperwork and ease in repayment at more than 2,000 locations across Costa Rica. After exponential growth that exceeded the Arce brothers’ initial expectations, the founders are now working to launch a similar loan model in Colombia.
“I could not be more proud of the tremendous success Bernardo and Pablo have seen in Costa Rica,” commented Dale Wood, founder and CEO, Dale Ventures. “A continued, successful partnership is the dream of every investor. I was excited to be the lead investor for Rayo seven years ago, and I’m excited for Dale Ventures to keep supporting these exciting entrepreneurs as we work together toward continued triumphs.”
Bernardo and Pablo Arce recognized the need of many for short-term financial help. Through mini loans payable in a maximum of 45 days – and an approval process that takes less than 24 hours – both individuals and businesses are able to fill their immediate economic needs while avoiding long-term debts. By eliminating the debt cycle that keeps many from seeking financial help, Rayo has successfully established itself as the most friendly, innovative and efficient mini-loan platform in the region.
Since its launch, Rayo has made more than 300,000 short term loans to tens of thousands of satisfied clients.
With two decades of experience in the financial services industry and several managerial roles with start-ups and established companies under his belt, Bernardo Arce has tapped into an underserved Latin American market. His experience, combined with the international business acumen of Dale W. Wood, has set up Rayo for continued success in dozens of potential markets.
About Rayo Credit
Rayo Credit specializes in small quick loans payable within 45 days. Our robust interactive internet platform, quick turnarounds and customer incentives differentiate us and have made us the number one option for Emergency Cash quick loans in our Industry.
About Dale Ventures
Dale Ventures is a personal investment holding group founded by serial investor Dale W. Wood. The company partners with management teams to provide significant strategic and analytic resources needed to build and grow remarkable companies. Dale Ventures has adopted a consultative approach that harnesses the power of innovative teams to generate groundbreaking ideas, tactics, and strategies that drive growth and build long-term value.
The expansion of Rayo Credit is just the latest example of Dale Ventures’ ability to invest, mentor and walk alongside successful businesses in Latin America and around the world. With offices in Dubai, Costa Rica, United Kingdom, Hong Kong, and beyond, Dale Ventures’ own international success provides companies with the expertise needed to expand beyond the borders of home.
For more information, visit www.Dale.com
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