Nexoos was founded in 2014 to connect investors to small and medium sized businesses that need financing. The peer-to-peer lending service provides credit analysis on borrowers to set more attractive lending rates for both parties. Brazil has recently changed its regulations, no longer requiring fintech startups to pair with a bank to offer financial services. The rule change has made it possible for Nexoos to apply for a banking license on its own.
Nexoos recently raised approximately R$2M (US$530K) from the family office Loyall, although the founders did not confirm the exact figure. Loyall can take a larger stake in the company after Nexoos becomes registered as a formal financial institution with Brazil’s Central Bank.
Nexoos previously received investment from seven angels in March 2017, but its model has allowed Nexoos to grow without much outside capital until now. They will use this round to continue to grow operations while applying for a banking license.
Read more in the original press release for LAVCA.