Kala, an artificial intelligence native company that manages the full credit cycle from origination to administration and collection, has announced the first issuance under its new securitization program. The transaction amounts to 195,000 million Colombian pesos and is part of a total authorized quota of one trillion Colombian pesos. Structured by Titularice S.A. and subscribed in its senior tranche by Gramercy, this operation marks Kala's transition from traditional funding to the capital markets and broadens its international investor base.
Securitization Program Details
Under this securitization structure, investors acquire securities backed by the loan portfolio originated by Kala. The company retains direct responsibility for administration and collection through its proprietary artificial intelligence platform. This arrangement connects local and international capital with credit demand from Colombian pensioners and workers while preserving operational transparency and efficiency.
Leadership Perspectives
Manuel Alemán, CEO and co-founder of Kala, emphasized that the company manages the entire operation from origination to collection using its artificial intelligence platform. He explained that the securitization program expands Kala's reach toward more investors seeking exposure to high quality assets managed in an efficient and transparent manner. The transaction demonstrates how technology-based credit management can align with institutional investor expectations.
A Path for Technology-Based Originators
Gerardo Recinos, Executive Vice President of Titularice S.A., stated that the issuance proves credit portfolios originated and administered with technology can meet the most demanding local and global capital market standards. He added that Kala's operational efficiency from origination to portfolio reporting makes a program of this scale viable. In his view, the operation opens a path for more technology-based originators to access capital market funding and expands alternatives for institutional investors.
Investor Confidence
Javier Ledesma-Arocena, Partner and Portfolio Manager at Gramercy, said the firm invests in originators that combine asset quality with operational excellence. He described Kala's loan portfolio, management team, and servicing capabilities as an excellent investment structure within the firm's emerging markets strategy. This endorsement reflects the confidence that international investors have in Kala's credit management model.
Financial Inclusion and Operational Scale
Kala has administered more than 1.5 trillion Colombian pesos in loans and served over 100,000 Colombians, primarily pensioners and formal workers. The company reports that 84 percent of its operations are concentrated in socioeconomic strata one, two, and three, reflecting its focus on financial inclusion. This scale demonstrates that technology-enabled credit servicing can reach underserved populations while maintaining the discipline required by capital markets.
A Broader Funding Milestone
With this transaction, Kala has consolidated more than 150 million US dollars between capital and funding since its founding in 2021. The first issuance under the one trillion peso program represents a significant diversification from traditional funding sources toward securities market financing. It also deepens Kala's end to end credit model that links international capital with local demand from pensioners and workers.
The securitization marks a significant step for Kala as it diversifies funding sources and strengthens its presence in international capital markets. It confirms that artificial intelligence-driven credit operations can satisfy the rigorous standards required by institutional investors. By expanding access to structured finance, the initiative is expected to support greater financial inclusion for pensioners and formal workers in Colombia while encouraging further innovation in technology-based lending.