SUMA’s $10 Million Venture-Debt Financing

NLD Abogados and Orrick advised SUMA, while Fieldfisher and Prieto Abogados advised PFG on the deal.

SUMA / Nubox (a SaaS company) closed a USD10 million venture-debt finance deal from the specialty-finance investment group Partners For Growth (PFG), in what is probably the first venture-debt financing for a SaaS company in Spanish-speaking Latin American countries. 

SUMA is a world class platform of SME SaaS solutions for millions of entrepreneurs in Spanish-Speaking Latin America. The company operates its cloud-based small business management platforms (payments, accounting, financial and compliance services) in Mexico, Chile (through Nubox), and Argentina, while proactively expanding to other countries in Latin America. Their goal is to empower +1 million SMEs in Latin America with simple, intuitive financial management platform allowing entrepreneurs to gain visibility and control of their businesses

Partners for Growth (“PFG”?) structures loans that are tailored to its clients’? needs. That often means very different structures such as lines of credit/revolving loans, term loans or convertible debt. Use of proceeds also varies and includes acquisition finance, general working capital, equipment and other asset purchases and management buyouts.

NLD team was led by partner Paulo Larraín (Picture).

Orrick team included partner Scott Morrison and associate Hridi Chowdhury. 

Involved fees earner: Paulo Larraín – NLD Abogados; Hridi Chowdhury – Orrick Herrington & Sutcliffe LLP; Scott Morrison – Orrick Herrington & Sutcliffe LLP;

Law Firms: NLD Abogados; Orrick Herrington & Sutcliffe LLP;

Clients: SUMA;