BTG Pactual acquired up to a 48% stake in Brazilian digital credit platform meutudo, currently valued at around $200M.
meutudo offers FGTS-backed (Fundo de Garantia do Tempo de Serviço) and CLT payroll-deducted (Consolidação das Leis do Trabalho) loans to Brazilian workers. FGTS loans allow formally employed workers to use their severance fund balance as collateral, which reduces interest rates.
meutudo also provides credit scoring tools, loan calculators, insurance products, and digital bank accounts through its app.
“This transaction reinforces our expansion strategy in the sector and expands our ability to offer affordable credit,” said Roberto Sallouti, CEO of BT Pactual.
Read more on Forbes.
