Challenge: How do we create a more inclusive, productive, and sustainable economic future for all?

Solution: Destácame

Destácame is solving the asymmetry of information between those individuals and MSMEs that want a loan and financial institutions. By understanding the timeliness of payments to utilities, suppliers, cash flow cycles, e-commerce and social networks interactions this solution can prove, with facts, how organized and responsible borrowers are. Destácame asks individuals and MSMEs for their consent and gathers their historical information and, using its proprietary algorithm, creates a credit score that MSMEs can share with financial institutions to prove their credit worthiness. This type of information has proven predictive for people and also is for MSMEs. Our business model benefits all stakeholders. People and MSMEs access to credit increasing their opportunities, their productivity and growing their businesses; large suppliers grow along with them as avoid concentration on large clients. At the same time, financial institutions get more information to reduce the risk of new clients while the reduction on the cost of credit origination makes it more attractive to invest in those individuals and MSMEs that were invisible.

About Augusto

Augusto is Co-founder of Destácame, the first behavior-based credit score in Latin America that aggregates utility and other alternative data to give access to credit to the unbanked.  He has worked in both the financial and real world. First, he structured derivatives to decrease financial risk of companies. Then, he was director of international sales at the biggest Chilean forestry company and worked as management consultant advising companies in several industries in Latin America. He has led different social programs ranging from education to building schools and houses in remote villages in Chile. Augusto holds a BS in Civil Engineering at Universidad Católica in 2007 and a MBA degree from Sloan MIT. He is happily married and father of 2 girls.