Creditas announces $260 million Series-F fundraising round
Creditas, the leading fintech platform for secured and specialized financial solutions, announces a US$260 million financing round, which values the company at US$4.8 billion.
São Paulo, January 25th 2022.
Creditas, the leading fintech platform for secured and specialized financial solutions, announces a US$260 million Series-F financing round, which values the company at US$4.8 billion, bringing the total equity raised to US$829 million across six different fundraising rounds. The Series-F round brings Fidelity Management and Research Company (“Fidelity”) as a new key shareholder for Creditas. Other new investors included Spanish fintech fund Actyus and Greentrail Capital. Current shareholders QED Investors, VEF, SoftBank Vision Fund 1, SoftBank Latin America Fund, Kaszek Ventures, Lightock, Headline, Wellington Management and Advent International, via their affiliate Sunley House Capital, also participated in the round, reinforcing the confidence in the company’s growth.
“I am extremely excited to be partnering with Creditas this round. They are the rare fintech that actually builds deep relationships with their customers, drastically lowering the cost of credit and improving the quality of life of those they serve. With collateralized lending they have taken on a complicated problem in a complicated market. They’ve tackled this problem through technology and operational innovation and as a result created a wide and durable competitive moat. With this latest round of financing, they will be able to continue to widen the moat and bring benefits to many new customers and Brazilian society as a whole. I’m proud to be a part of that”, Will Pruett, Portfolio Manager of Fidelity.
“Creditas is one of those special fintech assets given its ability to marry hyper-growth with high revenue economics into an ever-growing TAM. We continue to back them harder and see shareholders like Fidelity and Wellington in the cap table as reinforcement of our thesis that Creditas is a successful listed company in the making”, David Nangle, CEO of VEF.
"QED continues to be incredibly bullish on the momentum of Creditas and in its promise to disrupt a huge secured lending market across LatAm. Since investing in Creditas' Series-A, we've seen incredible growth born out of a determined desire to empower consumers to improve their financial health. By broadening its strategy away from being purely a finance company, Creditas can now leverage a number of end-to-end solutions from insurance to car sales to support more customers than ever before”, Bill Cilluffo, Managing Partner at QED.
“Creditas has become a powerful platform with recurrence and continues to be the best cost alternative for those looking for credit”, Paulo Passoni, Managing Partner of SoftBank Latin America Fund. “The company’s relentless focus on the consumer has delivered consistent exponential growth in transactions driven by better data, lower costs, improved engagement and higher recurrence. Creditas has become a virtuous, self-reinforcing ecosystem. Kaszek has supported the company at every stage since its early days and are extremely excited to have the opportunity to invest again in this round.” said Nicolas Szekasy, Co-Founder and Managing Partner at KASZEK. “Creditas continues to deliver exceptional results in a market that has a lot of growing possibilities. We remain excited to support a team of excellence in its mission to transform the credit ecosystem in Latin America”, Marcos Wilson Pereira, Managing Partner of LGT Lightrock in Brazil.
The new capital raised will allow Creditas to accelerate its strategy across 3 ecosystems: Home, Auto and Employee Benefits. The company will continue investing in expanding operations to deliver an increasingly complete platform including fintech products, insurance and marketplace solutions. This is consolidating Creditas as a one-stop solution for those seeking a digital-first experience in everything related to their houses, cars, motorcycles, and salary-based benefits.
“We have significant growth ahead across multiple avenues including financial solutions for our innovative marketplaces Creditas Auto (car marketplace), Creditas Store (ecommerce platform with a payroll-deductible buy-now-pay-later model) and Voltz (the largest manufacturer of electric motorcycles in Brazil). Beyond Brazil, we are now accelerating the growth in Mexico, a market that after 18 months of operation has proven to be a strategic engine for growth. We believe Creditas can become a true disruptor in the Mexican market being able to democratize access to financial products and consumer solutions alike.” Sergio Furio, Founder & CEO of Creditas, adding “We plan to continue growing by nurturing and expanding our ecosystem, such as providing financial solutions to our marketplace customers, launching new products, extending our geographic reach (including our recent successful entry into Mexico and the expansion of our tech hub in Valencia, Spain) and selectively pursuing strategic M&A opportunities.”
Creditas is the leading fintech platform for secured and specialized financial solutions focused on improving the lives of individuals in Latin America across 3 ecosystems: auto, home and employee benefits. The company provides a complete offering to its customers including fintech solutions, digital insurance and consumer solutions, using proprietary technology to deliver a unique customer experience. Its loan portfolio includes real estate, vehicle, and payroll-collateralized loans, providing access to different solutions and services with integrated financing and refinancing options. In consumer solutions, Creditas offers home renovation solutions, a proprietary online used car retail platform (Creditas Auto) and after its strategic investment in Voltz Motors, next generation EV motorcycles and scooters. In digital insurance, the company is the largest independent insurance broker in Brazil providing auto, residential and employment insurance in partnership with more than 16 carriers.
Founded in 2012 by Spanish Sergio Furio, it employs more than 4,000 people in Sao Paulo, Curitiba, Porto Alegre, Recife, Valencia (Spain), and Mexico City. International venture capital funds have invested over US$829 million in the company, and it has been ranked by KPMG, Business Insider, and Glassdoor as one of the world's most promising fintechs.
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