A group led Goldman Sachs and Point72 Ventures has invested $42 million in Mexico-based fintech company Credijusto, which makes asset-backed loans and leases equipment to small and medium-sized enterprises.

Credijusto said proceeds from the Series B financing will be used to launch new products and support its rapid growth.

Other investors in this round include Thomvest Ventures, Wolfson Group, Third Lake Capital, and Argo Ventures. Credijusto previously closed a $100 million credit facility with Goldman Sachs, and has received investments from Kaszek Ventures, QED Investors, Broadhaven Capital Partners, John J. Mack, and Supernode Ventures.

Pete Casella, a partner at Point72 Ventures, said the market for small and medium-sized enterprises is underserved and Credijusto’s tech-enabled approach is well-positioned to capture market growth.

Smaller Mexican companies seeking financing contend with long wait times, high rejection rates, and high costs of capital from traditional lenders. Credijusto said SMEs account for 99% of Mexico’s businesses and 74% of total employment but only 15% of outstanding credit.

“Here’s this big market that’s largely under-served and inefficient, and this modern lender can make sense of data that’s available,” Casella told Reuters in an interview. “If you can better underwrite a customer and do it faster then you’re going to capture share.”

The investment is the first in Mexico’s fintech space by Goldman’s Principal Strategic Investments group and by Point72.

Kaszek Ventures has recently raised $600 million in two new funds and invests in startups in Latin America. In 2016, it invested in the Mexican small business lending platform Konfio as well.

“This financing round is a validation of Credijusto’s rapid growth … and will further support our aim of building a world-class tech company that empowers (companies) through access to credit,” Credijusto Co-Chief Executive Officer Allan Apoj said.

Credijusto was founded in 2015 and is based in Mexico City. The company said it has originated more than $90 million in term loans and leases.

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