Brazilian fintech Creditas raised a $108M Series G round led by Andbank, setting its valuation at $3.3B, down from $4.5B in its Series F. The transaction also completes its acquisition of Andbank Brasil.
Creditas operates a digital lending platform that provides secured consumer loans. The company relies on credit scoring and borrowers’ assets, such as homes and cars, as collateral.
The acquisition strengthens Creditas’ funding base, lowers its capital costs, and improves its financial resilience as the company moves toward profitability.
Creditas also named former BBVA executive Ricardo Forcano as its new CTO and COO as it advances its technology and operations strategy.
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