Mexico’s Femsa Taps Fintech Specialist QED for Lending Expansion

Fomento Economico Mexicano SAB is using a strategic equity investment by venture capital firm QED Investors to expand its lending business, according to a filing.

Femsa, as the Mexican retailer is known, will use the funding to expand its financial services operation, which includes startup Spin, a digital wallet that lets users deposit and withdraw cash at the Oxxo convenience store chain.

Under the agreement, fintech specialist QED will provide expertise in areas including risk management and product development. The financial terms of the transaction weren’t disclosed, but Femsa will continue to hold a majority stake in the ...