Grupo Cibest acquires Colombian fintech Avista Colombia

Grupo Cibest has acquired 100% of Colombian fintech Avista Colombia after meeting all regulatory and closing conditions. Financial terms of the transaction were not disclosed.

Founded seven years ago, Avista Colombia offers digital financial products for Colombia’s silver economy. The company specializes in payroll-backed loans and uses data-driven technology to expand access to credit, including in rural areas. Avista is a certified B Corporation, a signatory to the United Nations Global Compact, and holds credit ratings from Fitch and BRC Ratings.