Colombian Auto Finance Firm Finanzauto Acquires Minority Stake in SAFCO

US auto financing firm Southern Auto Finance Company, LLC (SAFCO) recently announced that Colombian loan provider Finanzauto has acquired a minority equity stake in the company.

The Pompano Beach, Florida-based lender called this a “significant investment” and “mutually beneficial partnership” that is an “important milestone in SAFCO’s growth.” Specifically, SAFCO says this will help the company broaden its operations overall and further reach underbanked consumers in Colombia.

Finanzauto is a owned and controlled by SEISSA, a Colombian business group that has owned a diverse profile of companies in various industries dating back for almost a century.

“Our partnership with Finanzauto heralds an exciting new chapter for SAFCO,” said George Fussell, CEO of SAFCO. “Together, we embark on a journey filled with prospects and enhanced capabilities, positioning us to explore new horizons and achieve unparalleled success.”

(Photo credit: Jared Wade)