Mexican fintech firm Credijusto, which provides loans to SMEs, has raised $42m in a Series B financing round.

The investment round was led by Point72 Ventures and Goldman Sachs PSI, with participation from the Thomvest Ventures, Wolfson Group, Third Lake Capital and Argo Ventures.

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The company’s existing backers Kaszek Ventures, QED Investors, Broadhaven Capital Partners, John Mack and Supernode Ventures also joined the round.

With the latest investment, Credijusto plans to further strengthen its footprint in Mexico. A part of the proceeds will also be used to launch new products including digital advisory services and a credit card for SMEs.

The latest equity raise comes nearly five months after Credijusto secured a $100m credit facility from Goldman Sachs.

Point72 Ventures partner Pete Casella said: “Credijusto’s tech-enabled approach to meeting the financial needs of Mexico’s underserved SME segment has huge potential.

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“This is a very large market opportunity in which, after four years of rapid growth, the company has significant competitive advantages.”

In March this year, Credijusto secured a $100m credit facility from US-based investment bank Goldman Sachs.

Based in Mexico City, Credijusto offers asset-backed loans and equipment leases to local SMEs. The company is said to have originated more than $90m in term loans and leases since its inception.