Colombia’s Refinancia Announces Majority Acquisition By Encore Capital; Plans Expansion in Latin America
Refinancia, founded by Endeavor Entrepreneur and Colombian Board Member Kenneth Mendiwelson, recently announced news that the California-based Encore Capital Group has purchased a 51% stake in the company. An entrepreneur success story in Colombia, Refinancia’s announcement demonstrates the growing interest in emerging Latin American markets and the role of entrepreneurs in attracting global investments to the region. Refinancia, a specialty loan servicer that provides alternatives to consumers in need of specialized credit solutions, has supported over a million clients facing issues of financial re-entry and credit access.
An international, publicly-traded specialty finance company, Encore Capital has operations spanning seven countries working to provide debt recovery solutions for consumers and property owners across a broad range of assets. With the purchase of a stake in Refinancia, the Group is looking to consolidate its operations in Latin America while also expanding its reach into the region’s growing economies. Refinancia will gain the analytic and operational expertise of Encore as it continues to maintain its customer focus and strengthen its range of financial services.
Since his selection as an entrepreneur in 2008, Kenneth has been a testament to Endeavor’s model, scaling Refinancia into a multi-national company and multiplying his impact by becoming a board member and mentor for future generations of Endeavor Entrepreneurs. He has also been active in recommending entrepreneurs into the search-and-selection pipeline, serving as a panelist at ISPs, and working with MBA students through the eMBA Program.
Read the full press release of the news by clicking here.