GC counsels Solvento on $50m financing granted by Lendable
Gonzalez Calvillo has counselled the Fintech Solvento, as borrower, in the USD $50,000,000.00 warehouse financing granted by Lendable, as lender.
The financing, among others, will be used by Solvento to continue funding the origination of its loan portfolio in Mexico.
Additionally, as part of the deal, certain existing financings between Solvento, as borrower, and Marco Financial, an American / Uruguayan full-stack fintech platform offering trusted financial solutions to companies, as lender, were prepaid.
This transaction closed on 6 December, and involved the jurisdictions of Mexico, the UK and the US (New York). Nader Hayaux & Goebel (NHG) acted as counsel to Lendable in Mexico; Galicia Abogados as counsel to Marco Financial in Mexico; Paul Hastings as counsel to Solvento in New York and the UK; and Sullivan & Wocerster as counsel to Lendable in the UK.
This matter reflects the continued interest of foreign and domestic funds in the warehouse finance sector and Fintech companies in Mexico.
The advice involved cross-border (dual jurisdiction) transactions, where all business and legal documents and agreements must be implemented by adjusting and matching different concepts of foreign law within the legal framework of the transaction. Furthermore, it was necessary to implement a sophisticated collateral package, which – as usual in warehouse financing in Mexico – is remote from bankruptcy. Finally, regarding the part of the matter involving Marco Financial, the matter required careful structuring to ensure a timely exit for its financing, while Lendable made an efficient entry in parallel.
Solvento is a Fintech company in Mexico that provides efficient digital financial solutions focused on the transport and logistics sector.
Lendable is an investment and alternatives technology platform focused on global impact alternatives based in the UK.
NHG’s team included partner Adrián López and associate Mariagabriela Botello.
Galicia Abogados’ team comprised partner Humberto Perez Rocha and associates Paulina González and Marie Trabulse.
Paul Hastings’ team consisted of partner Rich Davis and of counsel Kara Parmelee.
Sullivan & Wocerster’s team was represented by partner Sam Fowler-Holmes.
GC’s team was led by partner Jorge Cervantes Trejo (pictured), with support from senior associate Jacinto Avalos Capin, associates Fernanda Koloffon Escalé and Luis Ernesto Brieño Jiménez, and law clerks Valeria Camacho Bello and Sofía Ramírez Esparza.
