LQN, a Colombian fintech and proptech specialized in technology for the mortgage sector, reported on the closing of a new financing round for a total of US $12 million, where US $10.5 million is in debt and US $1.5 million in equity capital. The private fund Grupo Pegasus, along with other investors, were the ones who led this investment.
The funds will be used to strengthen its technological platform and launch a new means of internal credit with mortgage guarantee, a measure that aims to lead the capital immobilized in the real estate of thousands of Colombian families.
“We are launching a self-originated credit vehicle, free-of-charge loans with a mortgage guarantee. 85% of the properties in Colombia do not have any type of credit, and the families who own these properties have that wealth locked up. We want them to be able to release it and return to production,” comments Andrés Pérez, co-founder and CEO of LQN.
LQN: Technology that transforms mortgage credit
Founded in 2018 by economists Andrés Pérez and Manuel Zabaleta, graduates of the University of Los Andes, they have developed a comprehensive technological platform that digitizes the entire mortgage origination and processing procedure.
Its model makes it possible for brokers, construction companies, real estate companies and portals to offer multibank digital mortgages; and at the same time, LQN manages the process until disbursement, reducing the average management time by 40%, which previously exceeded 100 days.
During its five and a half years of operation, the company has managed more than 12,000 loans with a value greater than US $2 billion dollars and processes approximately 20,000 mortgage operations annually for eight financial entities.
Furthermore, the B2B model with which the company operates has allowed it to integrate a network of more than 40 allies, including compensation funds and real estate and construction companies, along with 800 brokers throughout the country.
Sustainable growth and expansion
Unlike several startups in the sector, LQN has achieved positive EBITDA and has maintained an efficient structure.
“In 2022 the company had more than 215 people. Today we are 48 and the numbers have continued to grow. We have implemented artificial intelligence tools since 2023 and we were very judicious with finances, betting on the long term” mentions Andrés Pérez.
The LQN operation is made up of three main lines:
- Brokerage: where banks pay a commission for credits originated through the platform.
- Own credits: a new line that will be financed with the recent round and that will replicate the scheme warehouse used by financial institutions in the United States, offering disbursements in just 10 days, something unprecedented in the Colombian market.
- Technology: sale of technological tools to allies in the sector.
Global expansion projection
With this new phase, the Colombian fintech intends to establish itself as a direct actor in the placement of loans backed by housing, in addition to being a technological facilitator of mortgage credit.
LQN is thus established as one of the proptech companies with the most projection and solidity in the Latin American mortgage ecosystem, by uniting financial sustainability, technological innovation and a focus on long-term asset power for Colombian families.
