Provu, Lendico’s rebranding, announced a $256M funding round. The investment led by Goldman Sachs is a non-controlling equity interest through a Credit Rights Investment Fund (FIDC).
The company has 400 employees in Brazil and offers personalized online loans according to the profile of each client; to date Provu has lent more than $137M to over 90,000 customers. With Goldman Sachsā investment, the fintech intends to expand its lending capital.
The company also launched an installment invoice product known as BNPL (Buy Now Pay Later). According to Marcelo Ramalho, General Director of Provu, this launch and the Central Bank’s SCD license, which allows Provu to carry out participative loan operations through digital channels, allows the fintech to position itself as a payment method.
āWe are a payment option at the check-out. In e-commerce, we’re integrated with the main platforms, VTEX, Nuvemshop, and this gives us access to a large base of retailers and shopkeepersā, said Marcelo Ramalho.
