Tangelo

Tangelo is a Mexican financial technology company specializing in alternative credit solutions for underserved consumers and small and medium-sized enterprises across Latin America. The company was formed in January 2022 through the merger of Mexarrend, Mexico's second-largest independent asset-based lender with over 25 years of operational experience, and Zinobe, a Colombian digital lending fintech. Through its proprietary technology platform and advanced data analytics capabilities, Tangelo develops and operates tailor-made credit products including point-of-sale financing, supply chain financing, asset-based lending, credit scoring as a service, and white label digital credit solutions across multiple industries. The company employs a B2B2C embedded finance model, partnering with corporations and strategic investors to build and scale tech-enabled credit solutions. Tangelo utilizes AI-driven credit scoring models designed to maximize approval rates for non-traditional borrowers and serves both direct consumer lending and fintech-as-a-service markets. The company was backed by notable investors including QED Investors, Alta Growth Capital, and Colony Capital, and secured credit lines from major institutions like HSBC and Credit Suisse. However, Tangelo faced significant financial challenges, announcing a debt restructuring in April 2023 and defaulting on debt payments in January 2023 after accounting errors. PitchBook lists the company's ownership status as out of business. The company's website remains active but appears to reflect legacy operations, and its current operational status is uncertain following the restructuring period.