Investment

Softbank considers $230M investment for Brazil’s Creditas

LatAm List – Japanese investor, Softbank, is reportedly in conversations with Brazilian fintech, Creditas, regarding a potential $230M investment in a joint effort from their Vision Fund with support from the Latin America-focused Innovation Fund.

This negotiation is still under consideration and Softbank could still back out, according to Bloomberg. Softbank is also in the process of finalizing a $1B deal with Colombian delivery unicorn, Rappi, from their newly-launched $5B Innovation Fund.

Creditas raised over $63M in 2017 over two rounds. Their technology provides secured loans online at much lower rates than Brazilian banks with a default rate below 1%.

Creditas’ previous investors include Banco Santander SA’s InnoVentures, Amadeus Capital Partners, Quona Capital, and Vostok Emerging Finance.

Read more in Bloomberg.

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