Brazil-based fintech Creditas announced a $50 million extension to its $260 million Series F financing round, bringing the total to $310 million. With this expansion, the fintech brings in Andbank, the global private bank, to build a strategic partnership among both companies.
Creditas is one of the leading fintech platforms for secured and specialized financial solutions in Latin America. The company provides a complete offering to its customers including fintech solutions, digital insurance and consumer solutions, using proprietary technology to deliver a unique customer experience.
Creditas’ strategic acquisition of Banco Andbank (Brasil) S.A. will help them diversify the sources of funding and continue growing its credit portfolio. While Creditas will explore strategic synergies in asset management and capital markets, Andbank will continue operating the private wealth and asset management business in a separate entity.
“We are very excited about the future that is coming. The team at Creditas has been extremely resilient to the current market environment and is delivering a tremendous growth of 3.2x compared to the first semester of last year, while increasing efficiency and productivity. The expansion of our Series-F in the current environment will help us consolidate our position and maintain the high growth we have experienced in the last years”, Sergio Furio, Founder & CEO of Creditas.
“We are excited to become Creditas’s shareholders, partnering with Sergio Furió. We are highly committed to create value to Creditas through our expertise in banking" Carlos Aso, CEO of Andbank.
Additionally, Creditas is raising a convertible note for $150 million. With this they closed the acquisition of Kzas, a mortgage marketplace for real estate developers and brokers to offer digital mortgage products to property buyers.
This additional funding will also help Creditas to continue supporting the accelerated growth of Voltz Motors, the electric motorcycle manufacturer that received a strategic investment from Creditas in 2021.
To date many international venture capital funds have invested over $829 million in Creditas, which was founded in 2012 by Spanish Sergio Furio.
