Panacrédito breaks loan record in 2024
VOPM Group's fintech closed 2024 with its best historical year, recording 38% growth in vehicle-backed loan volume.
Panacrédito, VOPM Group's vehicle credit fintech, closed 2024 with 38% growth in loan volume, setting a new historical record for the company founded in 2011.
The result reflects sustained growth in demand for alternative financing in the Dominican Republic. Unlike traditional bank credit, Panacrédito requires no credit history or additional collateral — the applicant's vehicle is sufficient guarantee.
"These numbers confirm that there is a real need the formal system is not meeting. We have spent 14 years filling that gap." — Panacrédito spokesperson
The company attributes the record growth to improvements in its digital approval process, expansion of its service network, and organic growth through referrals. For 2025, Panacrédito projects continued momentum with new product initiatives.