We welcome Conmigo Vales, a lending company operating in the Mexico market and now launching on Mintos to offer new investment opportunities.
Conmigo Vales (legal name C&H Resoluciones) was founded in 2018 by two brothers Allan and Emilio Cherem, who were nominated by Forbes for Mexico’s “30 under 30” in 2017. The company is employing 100+ people at 10 client servicing branches in the northern part of Mexico and its administrative office. The company’s portfolio value exceeds MXN 170 million (approximately €7 million) as of the end of June. Cumulatively, there have been over MXN 600 million (approximately €25 million) worth of loans issued by Conmigo Vales.
Conmigo Vales has a unique business model that found a way to work with local communities by leveraging sales channels that are common for Mexico. The company partners with distributors who grant loans to people in their communities via vouchers (in Spanish: vales). The vouchers are used to purchase goods or services for daily needs. The borrowers can then repay the loans via various channels (shops, point of sales or the company’s client service centres).
The company shares that their customers choose them due to the high quality of their service. “We offer our services in a friendly way, having a pleasant atmosphere in our branches, organized in such a way that the customers are comfortable and can interact with us easily”, comments Emilio Cherem, Co-Founder of Conmigo Vales.
Strong support provided by a seasoned group
Conmigo Vales has been operating as part of Financiera Contigo (legal name CEGE Capital), a company with 10+ years of experience and a portfolio that exceeds MXN 1.3 billion (approximately €56 million), until it was spun off in late 2020. Financiera Contigo has helped more than 230 000 families, mainly by offering financial services to women entrepreneurs with limited access to traditional banking services, supporting self-employment, and consequently improving their quality of life.
The loans issued by Conmigo Vales and placed on Mintos will also have a group guarantee by Financiera Contigo (CEGE Capital).
Both Conmigo Vales and Financiera Contigo are partially owned by one of the largest lending companies in Mexico – Credito Real – which is also listed on the Mexican stock exchange.
Conmigo Vales during the pandemic
Co-Founder of Conmigo Vales, Emilio Cherem: “Our organization is people-centric and the Covid-19 pandemic provided an opportunity to prove so. When our loan distributors needed us the most, we designed tools, products, and services to lift them through this pandemic and accompany them to uncharted territories. We found ways to soften the impact in their finances while caring for this organization which provides job opportunities to hundreds of families.”
Conmigo loans on Mintos
Annual interest rates
Up to 11%
Average loan amount
Non-performing loans ratio (PAR 60**)
Average loan term
Skin in the game
Mintos Risk Score
Interest on delayed payments
*Annual Percentage Rate
**Portfolio At Risk (overdue more than 60 days)
The Mintos Risk Score for loans issued by Conmigo is 6, with the subscores of 5 for loan portfolio performance, 5 for loan servicer efficiency, 7 for buyback strength, and 5 for cooperation structure.
Conmigo Vales distributors
Out of all Conmigo Vales’ distributors, 95% are women. The company has a variety of requirements for the distributors, for example having at least 1-year prior experience with granting loans via vouchers. Conmigo Vales’ team analyzes the use of the potential distributor credit lines, the biweekly collections for their clients, and the final payments they have made. Additionally, the distributors are screened in a credit information system in order to evaluate their credit history. Within the process, the branch manager also conducts a home visit to all potential distributors to know the location of their home, the conditions of their home, and their quality of life. In case of a successful application outcome, the distributor is granted a credit line which can then be distributed through cash vouchers to a group of end-borrowers that are equally liable for each drawdown from the credit line. On average, each credit line is distributed to 14 end-borrowers which diversify the distributor’s risk. Aside from the already mentioned credit scoring factors, each distributor must have at least 1 third-party guarantor with sufficient income to cover distributors’ vouchers bi-weekly repayments in case of any shortfall from the end-borrower that the distributor cannot cover. The higher the approved credit line, the more guarantors must sing off for the distributor.
How to invest in Conmigo Vales loans
Mintos has added Conmigo Vales loans to the Diversified and High Yield strategies. If you want to invest in these loans with a custom automated strategy, make sure to adjust your strategy settings. If you’re investing manually, you can filter the loans on the Primary Market.
About Conmigo Vales
Conmigo Vales (legal name C&H Resoluciones) was founded in 2018, employing 100+ people across 10 branches across the northern part of Mexico and in administrative roles. Conmigo Vales has been operating under Financiera Contigo (legal name CEGE Capital), a company with 10+ years of experience. The loans issued by Conmigo Vales and placed on Mintos have a group guarantee by Financiera Contigo (CEGE Capital).
Conmigo Vales works in a relatively unique way – by partnering with distributors who grant loans to people in their communities via vouchers (in Spanish: vales), and in turn, earn commissions for doing so. Borrowers can then repay the loans via various channels (shops, POS, and customer centres). Out of all Conmigo Vales’ distributors, 95% are women. The company has a variety of requirements for the distributors, e.g., having at least 1-year prior experience with granting loans via vouchers and having at least 1 guarantor for the credit line (the bigger the credit line for vouchers is granted, the more guarantors must back up the distributor’s credit line). Learn more on the company’s website.