Zinobe closes $10 million line of credit from Monachil Capital

By Wendy Van Sickle

Columbus, Ohio, May 7 – Zinobe closed a $10 million secured line of credit provided by Monachil Capital Partners, according to a news release.

The line of credit is expandable up to $30 million.

"We are committed to develop modern financial services for everyone, and we are deploying all our technological and data analysis capabilities to provide more than four million independent workers affected by the lockdown with our online credit solutions," Tarek El Sherif, chief executive officer of Zinobe, said in the release. "As our company launched an effort to assist these citizens affected by the current crisis, Monachil was very receptive and flexible to Zinobe's need to deploy capital now and provide Colombians with much-needed liquidity."

Bogatoa, Colombia-based Zinobe develops online financial products for the consumer and small business underserved sectors.

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