Chilean Media Reports ECapital Bankruptcy Amid Sartor Crisis
Chilean business publication Diario Financiero reported that factoring company ECapital is going bankrupt. The Rio Times writes about this. At the same time, no court ruling, case number, court name, or information about a liquidator has been made publicly available, so the company’s formal insolvency status remains unclear.
ECapital’s legal name is Emprende Capital Servicios Financieros SpA. According to Diario Financiero, the company was founded in 2011 as a family business, and its registered line of business is factoring.
Debt to Sartor funds
An external analysis cited by Diario Financiero indicated that ECapital had financial debt of 46 billion Chilean pesos to private investment funds managed by Sartor. The report emphasizes that this amount concerns only liabilities to Sartor funds, rather than ECapital’s total liabilities.
Factoring is a form of short-term financing in which a company sells unpaid invoices to a factoring firm at a discount and receives funds before the payment due date. The factoring company then collects the full amount from the debtor.
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Sanctions and criminal complaints
Chile’s Financial Market Commission (CMF) in November 2025 concluded sanction proceedings against Sartor AGF and eight former directors and executives. The regulator revoked Sartor AGF’s authorization to operate, while the total fines imposed on individuals amounted to 367,500 UF — indexed units of account whose value in pesos is recalculated daily.
In August 2026, Chile’s Supreme Court overturned the first decision to revoke Sartor AGF’s license, issued in December 2024, on procedural grounds. According to the source, this ruling did not affect the subsequent CMF sanctions imposed in November 2025.
In January 2025, a group of investors filed two complaints with the Santiago prosecutor’s office, alleging possible fraud related to ECapital and Sartor. The complaints cited estimated losses of 2.4 billion and 600 million Chilean pesos. In response, Sartor’s president filed a criminal complaint against nine ECapital investors, claiming that they were creditors rather than investors. The source does not report decisions in these cases or the filing of formal charges.
Chile’s Central Bank noted that some companies conducting factoring operations are not subject to specialized regulation. In its assessment, banks account for 74% of the country’s factoring market, while companies issuing securities for public offering account for 23%.
