Creditas raises $255M for loans

LatamListCreditas, the Brazilian fintech, raises $255M from multiple investors including LGT Lightstone, Tarsadia Capital, Wellington Management, Redpoint, and Sunley House Capital. Returning investors in the round include the SoftBank Latin America and Vision Fund 1, Kaszek Ventures, VEF, and Amadeus Capital Partners.

Creditas is an online lending platform that offers loans at a lower interest rate than traditional banks. The company has grown exponentially in recent years, demonstrating the huge need for lending services in Latin America.

“By empowering Brazilians to take control of their lending needs at reasonable rates, Creditas creates a reliable customer product that will drive significant value for customers and investors,” said Mathias Schilling, co-founder and Managing Partner of Redpoint e.Ventures.

The funding will enable Creditas to expand its home and auto lending services, payday services, and to launch a new retail service with buy now-pay later loans. The company also aims to consolidate its presence in Mexico.

Read more on TechCrunch.

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