R2
R2 is a Mexico City-based embedded lending platform that powers API-driven revenue-based financing for SMB merchants across five Latin American countries via partner integrations with Uber Eats, inDrive, Rappi, Mercado Libre, and others.
- Company typePrivate
- Founded2020
- HeadquartersMexico City, Mexico
- Headcount1–10
- GTM typeB2B
- OfferingServices
What R2 does
R2 is a Mexico City-based embedded lending infrastructure company that provides API-first revenue-based financing to SMB merchants across Latin America. Its platform enables B2B partners — including Uber Eats, inDrive, Rappi, Mercado Libre, Clip, PayU, Klap, and Tuu — to embed working-capital loans and merchant cash advances directly inside their own applications, with credit decisions and full operations handled by R2 under the partner's brand. The company operates in five countries (Mexico, Brazil, Chile, Colombia, Peru) through locally regulated entities, including a SOFOM in Mexico, a banking correspondent arrangement with QI Tech in Brazil, and registered lending entities in each LATAM market.
R2's core technology is an AI/ML-driven underwriting engine hosted on AWS that ingests real-time platform transactional data — sales velocity, order frequency, refund behavior, customer ratings, cohort retention — to automatically generate pre-approved, dynamic credit offers ranging from $100 to $100,000+ per merchant. The platform supports sales-based (revenue-tied) repayments, pre-built SDKs for sub-month integration, built-in KYC/AML compliance (ISO 27001:2022 certified), and AI-agent-driven merchant servicing. End-to-end automation enables frictionless in-platform applications (under five minutes) and same-day funding.
R2 earns revenue primarily through interest, fees, and commissions on the credit it originates using its own capital and warehouse/debt facilities; in Brazil, revenue flows via a correspondent-banking pass-through with QI Tech. R2's headcount is reported in the 1-10 range per firmographics, though the company finances 180K+ loans and supports 100,000+ SMEs. Capital sources include a $5.9M seed (Feb 2022, General Catalyst), $15M Series A (Sept 2022, Gradient Ventures), $100M CIM warehouse facility (May 2023), $9M equity plus $50M debt (Nov 2024, Hi Ventures/Cometa/CIM), and an undisclosed strategic investment from Ant International (Oct 2025).
R2 firmographics
Firmographics- Name
- R2
- Legal name
- R2 Capital Technologies MX, S.A. de C.V.
- Website
- https://r2.co
- Company type
- Private
- Founded year
- 2020
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- R2 is a Mexico City-based embedded lending platform that powers API-driven revenue-based financing for SMB merchants across five Latin American countries via partner integrations with Uber Eats, inDrive, Rappi, Mercado Libre, and others.
- Ownership category
- akta.pro rank
R2 industry classification
Industry- Product category
- Embedded Lending / Embedded Finance
- NAICS
- Sales Financing (522220), Mortgage and Nonmortgage Loan Brokers (52231)
- SIC
- Short-Term Business Credit Institutions (6153), Personal Credit Institutions (6141), Finance Services (6199)
- akta.pro primary industry
- P2P Small Business / SME Marketplace Lending (FSAKAHAC)
- akta.pro secondary industries
- P2P Loan Servicing & Collections (Marketplace-Specific) (FSAKAHAN), P2P Credit Lines / Revolving Marketplace Lending (FSAKAHAK), P2P Loan Syndication & Participation Platforms (FSAKAHAL)
Keywords
Where R2 is headquartered
LocationHeadquarters
- HQ city
- Mexico City
- HQ country
- Mexico
- HQ region
- Latin America
Offices6 records
Markets served
R2 business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Operations, Personnel, Marketing or Sales, Infrastructure
Revenue model
- Interest and fee spread on embedded lending: R2 originates digital loans (and merchant cash advances) directly to merchants using its own capital or warehouse/debt facilities, earning revenue from interest, commissions, and fees on the credit it extends. Repayment is typically a percentage of daily sales (revenue-based financing model).
- Partner/platform economics on embedded capital: Platform partners monetize the lending experience R2 powers — earning commissions, interest spreads, or usage-based fees from credit delivered through their platforms, with R2 taking on the credit risk.
- Correspondent-banking pass-through revenue (Brazil): In Brazil, R2 Tech Brasil acts as a correspondent bank to licensed institutions such as QI Tech SCD; revenue is derived from the credit operations originated and serviced through this partner financial institution arrangement.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Pay-as-you-go | Mexico consumer credit — average CAT 141% (ex-IVA), per regulatory disclosure |
| Other | Monthly | Brazil example — R$1,000 over 18 months, 14.8% monthly interest, CET 435.02% per year |
| Other | — | Platform/Lending-as-a-Service pricing — not publicly disclosed (demo-based) |
Go-to-market motion4 records
Distribution channels4 records
Marketing channels6 records
R2 product offering
Product offeringCore offering
R2 is an API-first embedded lending platform that enables digital platforms across Latin America to offer financing to their SMB merchants directly inside the partner's product. The company originates working-capital loans and merchant cash advances sized from $100 to $100,000+, uses AI/ML-driven underwriting on real-time platform transactional data, applies sales-based (revenue-tied) repayment, and fully owns KYC, compliance, liquidity, and servicing while assuming 100% of the credit risk so partner platforms carry zero balance-sheet exposure.
Differentiator
Problem solved
Functional benefit
Products and services
- R2 Embedded Lending Platform Core API-based embedded lending infrastructure that lets digital platforms across Mexico, Brazil, Chile, Colombia, and Peru offer financing to their SMB merchants directly inside their own apps. Powers 180,000+ loans granted via pre-built APIs/SDKs, AI underwriting, sales-based repayment, and R2-owned KYC, compliance, liquidity, and credit risk.
- Revenue-Based Financing (RBF) Digital working-capital loan product sized from $100 to $100,000+ per merchant with repayments automatically deducted as a configurable percentage of daily sales on the partner platform. AI-generated, pre-approved, dynamic offers that grow as merchants' sales grow.
- Uber Eats Financing (powered by R2) Embedded restaurant financing product offered inside the Uber Eats Manager app to qualifying restaurants in Mexico and Chile. Pre-approved merchants receive same-day funding, with repayments automatically deducted as a percentage of sales and eligible restaurants receiving up to 5% of the loan amount as Uber Eats marketing credits.
- inDrive Money (powered by R2) Embedded cash-advance product for inDrive drivers offering up to COP 1,000,000 (~USD 240) with 3–5 month repayment, automatically deducted from ride earnings and capped at less than 10% per ride. Live in Mexico, Colombia, and Peru.
- Crédito de Consumo (Mexico) Mexico consumer-credit product originated directly by R2's local SOFOM entity (Parhelio S.A.P.I. de C.V. SOFOM E.N.R.) and serviced by R2 Capital Technologies MX, S.A. de C.V. Average Costo Anual Total (CAT) of 141% (excluding IVA), per regulatory disclosure; final conditions vary by client profile, credit history, and transactional data.
- Crédito Productivo (Colombia) Productive credit product in Colombia for micro, small, and medium enterprises (MiPymes) in urban and rural zones, classified under Decreto 455 de 2023. Optional Fondo de Garantías de Antioquia (FGA) credit-backstop coverage is available for selected credit lines.
- Embedded Lending (Peru)
Companies that use R2
Customer profileNamed customers8 records
Segments5 records
Ideal customer profiles1 record
R2 technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
AI capability7 records
Feature7 records
R2 partnerships and signals
Strategic signalPartnerships
13 partnerships are on record, tiered minor, flagship and core.
- Greenberg Traurig, LLPminorActed as legal counsel to R2 in connection with the strategic investment from Ant International finalized October 28, 2025.
- Ant InternationalflagshipStrategic investment finalized October 28, 2025, with capital injection plus technology sharing. Combines Ant International's AI-driven risk-management tools (SHIELD, Antom) with R2's embedded-lending platform to expand SME credit access across LATAM. Operative across Mexico, Chile, Colombia, Peru, and Brazil. Aims to address the $1 trillion LATAM SME credit gap (only 13% of demand currently met).
- Uber EatsflagshipLaunched "Uber Eats Financing" powered by R2 in Mexico in January 2025, expanded to Chile in April 2025. R2 committed to pre-approve $1 billion MXN in loan offers for qualifying Uber Eats restaurants; eligible restaurants receive up to 5% of the loan amount as Uber Eats marketing credits. Loan application, approval, and same-day funding are integrated into Uber Eats Manager.
- inDriveflagshipPowers "inDrive Money", inDrive's embedded financial-services product for gig drivers. Launched Mexico (Feb 2024), Colombia (Sept 2024), Peru (Mar 2025). Offers up to COP 1,000,000 (~USD 240) per driver with 3–5 month repayment, automatically deducted from ride earnings at <10% per ride. Drivers access loans directly in the inDrive app based on real-time performance data.
- ClipflagshipR2 partnered with Clip, a leading POS provider in Mexico, to embed R2's lending infrastructure so Clip's merchant base can access working-capital financing directly through Clip's POS platform.
- RappiflagshipRappi's logo appears in R2's homepage partner strip, indicating an embedded-financing integration for Rappi merchants/restaurants across LATAM. R2's blog repeatedly references the Rappi partnership as a flagship embedded-lending use case.
- QI Tech SCD S.A.flagshipR2 Tech Brasil Ltda. operates as a banking correspondent (Resolução CMN 4.935/21) with QI Tech SCD S.A. (CNPJ 32.402.502/0001-35, São Paulo) as the licensed Brazilian financial institution that originates, underwrites, and issues the Cédulas de Crédito Bancário (CCBs); R2 acts as the embedded-finance front-end and second layer of KYC/compliance.
- KlapcoreKlap's logo appears in R2's homepage partner strip, indicating an embedded-financing integration for Klap's retail/ecommerce merchants via the "Crédito Emprende" program.
- TuucoreTuu's logo appears in R2's homepage partner strip, indicating an embedded-financing integration for Tuu's small-merchant base.
- Mercado LibreflagshipR2's homepage partner strip displays the marketplace mark identified as Mercado Libre, indicating an embedded-financing integration for Mercado Libre sellers in LATAM.
- Cobinmex S.C.minorExternal collections agency authorized by R2 Mexico (RFC: COB120222I38, Tel +52 55 3841 1375). Registered with CONDUSEF's REDECO and authorized to conduct collections between 8:00 and 21:00 hours.
- Centro de Atención y Recuperación Pypper de México S.R.L. de C.V.minorExternal collections agency authorized by R2 Mexico (Parhelio / R2 Capital Tech MX) and registered with CONDUSEF's REDECO.
- Arana, Ramos y Asociados S.C.minorExternal collections agency authorized by R2 Mexico (RFC: ARA2305156D5, Tel +52 33 35990142, grupodeal.mx). Registered with CONDUSEF's REDECO.
Scale indicators15 records
Recent moves11 records
Expansion highlights6 records
R2 competitors and assessment
Company assessmentDirect peers
- Konfío: Mexico-based SMB lending platform serving small and mid-sized businesses with working capital and credit products. Directly comparable to R2's core SMB embedded-lending proposition and the most direct Mexican competitor in the SME credit gap R2 targets.
- Kueski: Mexico's largest online consumer and SMB lender, offering credit lines and point-of-sale financing via APIs to merchants and platforms. Overlaps with R2 on Mexico consumer credit and merchant cash advances, and competes for similar B2B platform integrations.
- Addi: LATAM BNPL and merchant financing platform with operations in Colombia, Brazil, and Mexico. Comparable to R2 on embedded merchant financing for marketplaces and retailers, and competes for similar B2B platform partnerships across the Andean region.
Broad incumbents
- Creditas: Brazil's largest consumer/SMB secured-lending fintech (home equity, auto, payroll). Comparable to R2's Brazil operations through QI Tech correspondent in terms of end-borrower segment (LATAM SMB/consumer), though Creditas operates a direct, balance-sheet-heavy model rather than embedded.
- Mercado Pago: Mercado Libre's payments and credit arm — the largest marketplace-embedded credit provider in LATAM. Competes with R2 for embedded SMB lending on Mercado Libre's seller base (where R2 is also referenced as a partner) and across other LATAM marketplaces.
Emerging players
- Stori: Mexico-based credit-card fintech serving underbanked consumers and small merchants. Comparable to R2 on Mexico consumer/SMB credit and shared target borrower profile, though Stori primarily distributes directly rather than via embedded APIs.
- Clara: Mexico-focused corporate credit-card and spend-management platform extending SMB credit. Comparable to R2 on Mexico SMB working-capital lending and competes for similar B2B platform integrations, though Clara focuses on corporate cards versus R2's revenue-based financing.
- a55: Brazilian fintech providing embedded credit and banking-as-a-service infrastructure to SMBs and platforms. Comparable to R2 on the embedded-lending-as-a-service proposition in Brazil and competes for similar platform partnerships.
Others
- Belvo: LATAM open-finance API platform enabling bank-data connectivity for lenders and fintechs. Adjacent to R2 as a likely infrastructure layer in the LATAM lending stack rather than a direct competitor; Belvo's data could also feed R2's underwriting models.
Regional players
- Tribanco: Brazilian bank-owned SMB embedded-credit provider offering working capital to retailers and small merchants via point-of-sale integrations. Comparable to R2's Brazil operations through QI Tech in SMB merchant financing, though Tribanco is limited to Brazil.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
R2 social profiles
Digital presenceR2 compliance and trust
Trust signalCompliance6 records
R2 financial estimates
Financial estimateRevenue estimate
Valuation estimate
R2 leadership team
Management profileNumber of profiles
Profiles3 records
R2 subsidiaries and ownership
Company hierarchySubsidiaries5 records
R2 funding detail
Funding detailFunding overview
Funding rounds7 records
Investors14 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
R2 M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about R2
What does R2 do?
R2 is an API-first embedded lending platform that enables digital platforms across Latin America to offer financing to their SMB merchants directly inside the partner's product. The company originates working-capital loans and merchant cash advances sized from $100 to $100,000+, uses AI/ML-driven underwriting on real-time platform transactional data, applies sales-based (revenue-tied) repayment, and fully owns KYC, compliance, liquidity, and servicing while assuming 100% of the credit risk so partner platforms carry zero balance-sheet exposure.
Is R2 a public or private company?
R2 is a private company. It is classified as venture growth investor backed and is currently operating.
When was R2 founded?
R2 was founded in 2020. It employs 1 to 10 people.
Where is R2 based?
R2 is headquartered in Mexico City, Mexico, in the Latin America region.
How does R2 make money?
Three revenue lines are on record. Interest and fee spread on embedded lending is the primary driver. The others are partner/platform economics on embedded capital and correspondent-banking pass-through revenue (Brazil).
Who are R2's main competitors?
Direct peers on record are Konfío, Kueski and Addi. Broad incumbents are Creditas and Mercado Pago. Emerging players are Stori, Clara and a55. Belvo is listed as an others. Tribanco is listed as a regional player.
Does R2 have an API?
Yes. R2 offers a partner-facing API for embedding lending/financial services into platforms. The platform provides pre-built APIs and SDKs that enable quick integration of financial services, reducing launch timelines from months to just weeks. The API supports TLS encryption for data in transit and is documented at https://r2-api-docs.readme.io/. Features available via the API include: frictionless loan applications embedded in partner platforms, sales-based repayments, AI-driven pre-approved dynamic offers ranging from $100 to $100,000+, built-in KYC and compliance, and same-day funding. Developer documentation is at r2-api-docs.readme.io.
What industry is R2 in?
R2's product category is Embedded Lending / Embedded Finance. Its primary akta.pro industry code is FSAKAHAC, P2P Small Business / SME Marketplace Lending, with a secondary code of FSAKAHAN, P2P Loan Servicing & Collections (Marketplace-Specific). Its NAICS code is 522220 and its SIC code is 6153.