Brazil’s Weel raises $30M from Franklin Templeton

LatAm ListFranklin Templeton, a global investment organization, has invested $30M in Brazilian-Israeli fintech Weel as part of its strategy to increase its presence in Brazil and the rest of Latin America.

Weel, which has previously received investment from Monashees, Mindset Ventures, and Banco Votoranitum, offers online loans to small business clients at lower rates than traditional banks. With Franklin Templeton, they intend to create more products for small businesses.

Weel also plans to start operating in Mexico and Chile by December.

Read more on LAVCA.

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