Rayo Credit

Rayo Credit is a fintech company providing short-term financial solutions across several Latin American countries, including Costa Rica, Colombia, and Mexico. Founded in 2013 by the Arce brothers, the company was established to address the need for accessible, small-value loans without the lengthy processes of traditional banking. The business concept was first developed in 2012, leading to the first office opening in Costa Rica in 2014.

The company's core service is offering unsecured mini-loans online, with funds deposited within 24 hours. This model is designed for individuals requiring immediate liquidity for occasional needs, who wish to avoid long-term debt. The application process is entirely online, where users can calculate their loan, fill out a form, and receive a proposal in minutes. Rayo Credit operates on a venture capital-backed model and generates revenue through interest, administration, and technology fees associated with its loans. The company serves a broad client base, including those who may not qualify for conventional bank loans, and aims to provide an entry point into the traditional financial system.

Rayo has expanded its operations significantly since its inception. By 2015, the company had grown to 15 employees and had issued 15,000 loans. It entered the Colombian market in 2019 and expanded to Mexico in 2023. The company also implements a customer loyalty program that rewards repeat clients with benefits such as discounts on future loans and access to larger credit amounts based on their payment history.

Keywords: personal loans, mini-loans, short-term finance, online lending, fintech, Latin America, consumer finance, unsecured loans, credit access, financial solutions, immediate liquidity, Costa Rica, Colombia, Mexico, loan application, credit history, venture capital, financial services, digital loans, quick credit