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Company Overview
Baubap is a fintech company headquartered in Mexico City, CDMX, Mexico, with a fully remote team. The company operates within the credit and lending sub-industry, offering financial services primarily through a mobile lending app. Baubap was part of the Y-Combinator S21 batch and has garnered support from notable industry leaders such as 500 Startups, Seedstars, G2 Momentum Capital, Mass Challenge, Y Combinator, and Bloomberg Linea. Additionally, the company has received debt financing of US$20 million.
Loan Services
Baubap offers loans ranging from $500 to $5,000 MXN without the need for a credit bureau consultation. The repayment period for these loans spans from a minimum of 90 days to a maximum of 24 months. The company features an APR maximum of 300% and a Total Annual Cost (CAT) informative rate of 1355.19% without VAT as of October 5, 2023. For instance, a $500 loan would result in a total payment of $874 plus VAT on interest, based on a daily interest rate of 0.83% over a 90-day term.
Regions of Operation
Baubap operates in various regions including Mexico and Latin America, with a business model that fully supports remote operations. The company's remote approach allows it to cater to a diverse clientele spread across these regions, enabling broader access to its financial services.
Industry Collaborations and Support
Baubap is supported by several industry leaders such as 500 Startups, Seedstars, G2 Momentum Capital, Mass Challenge, Y Combinator, and Bloomberg Linea. This support has facilitated the company's growth and expansion within the fintech sector. Baubap has also secured debt financing amounting to US$20 million, as detailed by Bloomberg Linea.
Baubap Employees
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