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SubscribeCuatrecasas has advised Colombian fintech Bold on a COP 37.450 billion bilateral loan from BBVA Spark. This financing will expand Bold’s lending capacity for micro-, small, and medium-sized enterprises (MSMEs) in Colombia.
Bold has achieved significant growth in Colombia’s payments market. After six years in operation, the fintech has onboarded over 700,000 merchants onto its platform and processes COP 20 trillion in card transactions annually. These figures and its product portfolio underscore the strength of Bold’s business. They position Bold among the few Colombian fintechs with access to bilateral financing structured directly with a commercial bank.
Manuel Quinche, managing partner of the Cuatrecasas Bogotá office, said: “BBVA Spark’s participation in this transaction reflects the bank’s confidence in Bold’s work with MSMEs, which represent the majority of Colombia’s businesses. Bold gives these companies access to the financial system through digital solutions that enhance security and support their day-to-day operations.” Quinche led the transaction alongside lawyers Emilio Echeverry, Santiago Jaramillo, and Isabel Ocampo (Finance); and Alejandro Manrique (Corporate).
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