Latam Trade Capital, a leading Latin American focused specialty finance company completed an acquisition,  Grupo Factoring Occidente S.A. (GFO), a leading factoring and invoicing fintech company in Colombia that was founded in 1995, continuing to execute its growth strategy and confirming its commitment to Latin America and the region.Santiago, August 1, 2019  Latam Trade Capital completed an acquisition, as it continues to grow throughout South America.  “Grupo Factoring de Occidente, a market leader in Colombia serving sectors including telecommunications, agribusiness, manufacturing, energy and mining, with significant growth potential and true alignment with our current sector targets, is joining Latam Trade Capital” said Carlos Baudrand, CEO of Latam Trade Capital.  “We are excited with this acquisition, which is consistient with our strategy of growth throughout Latin America, and specifically in the Andean region,” said Baudrand.  The acquisition further expands Latam Trade Capital’s geographic footprint as well as enhances technology efficiencies, and drives immediate growth and additional synergies to maximize value,” continued Mr. Baudrand.  From a client and borrower perspective this acquisition enhances and expands capacity for current and new clients as well.  With stable, scalable funding provided through its unique capital markets solution, Latam Trade Capital continues to build on and grow its ability to be a strategic lender supporting client growth through the provision of innovative and scalable structures.In addition to an expanded and diversified client base and further depth in management, GFO also provides an outstanding technology addition to Latam Trade Capital’s business through its iProveedor, a market leading proprietary invoice technology platform.  This capability enables large global multinational companies to manage their supplier relationships through electronic modules including invoice management, factoring, PO management, inventory management and taxes.  This proprietary platform was acquired by GFO in 2005 for basic invoice payable management, and has continued to improve and expand the platform over 14 years to provide sophisticated finance and data services to top companies in the region, processing monthly invoices with their overseas and in-country buyers.  This tested, value driving product will be deployed to other Latam Trade Capital clients in Chile, Peru and Brazil, further increasing the company’s reach by becoming preferred partners to a wider group of global multinational companies. While Latin American trade flows were recorded at over US$1 trillion in 2018 - a 9% increase during the years -  the financing gap for SMEs in the region is estimated to surpass US$200 billion, highlighting a steady and unmet capital demand.  With the lending market in Latin America dominated by a concentrated number of commercial banks, as well as stricter lending provisions, regulatory and capital requirements, there is an ever increasing need to fund this shortfall via non-bank financial institutions such as specialty finance companies.“The primary goal of Latam Trade Capital” said Mr. Baudrand, “is to develop solutions for our clients by understanding their short and long term priorities and providing financial products tailored to their needs.  This acquisition contributes towards that goal, allowing us to more effectively deliver funding solutions to our clients throughout the region as we continue to expand.” Latam Trade Capital addresses this vital market need by providing local currency funding facilities, encompassing working capital, supply chain and trade finance solutions to support exporters, SME’s and local enterprises in Chile, Brazil, Peru and now Colombia.  The company provides connectivity between global capital markets and local capital needs through a unique financing program, driving sustainable growth through scalable funding, improved risk management and operating synergies.  “Through this unique approach we will continue to provide stable, scalable, flexible capital to our clients throughout the region”, said Mr. Baudrand.  “In addition, we will continue to innovate and incorporate new financial products for a wider range of businesses in Latin America,” he said. Latam Trade Capital, through its predecessor companies has many years of experience operating in Brazil, Peru and Chile, and has been an innovator in providing Latin American small and medium-sized enterprises with factoring, pre-export finance and trade finance facilities.  Latam Trade Capital has its headquarters based in Santiago with offices in Lima, Bogota, Sao Paulo and New York, is a member of the Chilean Factoring Association, registered in Chile with the Financial Market Commission (CMF), in Peru with the Superintendence of Banks and Insurance and a member of FCI, the world's representative factoring network and association with over 400 members in 90 countries.For further information, please contact:Santiago - Carlos Baudrand, CEOp. +56 2 2956-6000 / c.baudrand@latamtradecapital.com Lima - Oswaldo Sandoval, Head of Bankingp. +51 1 206-4480 / oswaldo.sandoval@latamtradecapital.com