Digitt

About Digitt

Digitt is a Mexican fintech company that provides digital loans to help individuals refinance and consolidate their credit card debts at lower interest rates. The company was founded in 2019 by David García, who, after a personal experience with high-interest bank loans, sought to create a more transparent and equitable financial solution. The platform is 100% digital, offering a streamlined online application process with a response in under 48 hours.

Targeting creditworthy borrowers in Mexico who are overcharged by traditional banks, Digitt focuses on the near-prime and prime segments rather than subprime borrowers. To be eligible, applicants need a debt of over $10,000 MXN in credit cards, a good credit history, and proof of income. The company offers loans up to $150,000 MXN without charging additional commissions or penalties. Digitt's business model is built on a lean, digital-first operation that acquires customers through content-driven channels focused on financial education. Revenue is generated from the interest on the loans it provides. The company differentiates itself by using proprietary machine learning models to automate over 65% of its credit decisions, allowing for faster approvals and maintaining low default rates.

Digitt has shown significant growth, increasing its loan book tenfold in three years while keeping a low single-digit loss rate. The company has gained institutional credit lines, including one for $50 million from a New York-based private credit fund, to expand its lending capacity. It also successfully secured investment on Shark Tank Mexico from investors Alejandra Ríos and Karla Berman.