Creditas is a Brazilian secured lending platform that is working to reduce consumer debt and lending interest rates in Brazil. Last week, Creditas announced an increase in their Series C funding round to US$55M, due to a first-time investment by Santander Innoventures. The round was led by Vostok Emerging Finance and other previous investors, Kaszek Ventures, Quona Capital, QED Investors, International Finance Corporation and Naspers Fintech, along with new investors, Amadeus Capital Partners.
This was the first Brazilian investment by Santander Innoventures, the fintech venture capital arm of Santander Group. Said Manuel Silva, partner and head of Investment at Santander InnoVentures, in the original press release on LAVCA:
“Brazil is a core market for Santander, and we are excited to make our first investment in such a thriving ecosystem. We are strong believers in Brazilian fintech innovation and see Sergio Furio, Creditas’ founder and CEO, a great example of the new generation of entrepreneurs in Brazil who are redefining local financial services. We are very happy to join him and his world-class investors in shaping Creditas’ success”
Creditas has over 365 employees in Brazil and has been growing consistently throughout the year. They plan to use the funding to continue expanding, develop new products, and explore new markets in 2018. Since it was founded in 2012, Creditas has managed over US$3T in assets to provide affordable home and auto loans to Brazilians across the country.
Read more about the investment in LAVCA.