The Brazilian fintech Creditas announced a $260M Series F funding round led by Fidelity Management & Research LLC. The round brings the fintech’s valuation to $4.8M.
Creditas is a lending platform that offers competitive rates for loans to those often overlooked by traditional banks. The platform enables customers to offer belongings, such as a car, as collateral in return for the loan.
“We are a fintech company that uses those assets to deliver cheaper financing,” said Sergio Furio, founder and CEO.
The Brazilian fintech Creditas raised a $225M funding round in December 2020. Since then, Creditas has more than doubled its valuation. For a company that is now 10 years old, such rapid continued growth is impressive.
The fintech launched its first international expansion in Mexico 18 months ago and plans to continue growing.
“We believe Creditas can become a true disruptor in the Mexican market, able to democratize access to financial products and consumer solutions alike,” said Furio.
Multiple other investors also participated in the round, including Actyus, Greentrail Capital, QED Investors, SoftBank Vision Fund and Latin America Fund, Kaszek Ventures, and Lightrock.
With the new funding, the fintech Creditas will make new hires and also invest in acquisitions to help increase its product offering.
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