LatAm List – Brazilian startup Creditas, a fintech for facilitating secure loans, received 800,000 loan applications in the first half of 2019- a 230% increase to this time last year.
As a result, Creditas requested over $5B (R$20B) in credit. Not all of the loan applications will be fulfilled, but the dramatic acceleration of requests has made the company hopeful for the future of Brazilian credit loans:
“We are very happy with this result. The figures show that there is a great demand in Brazil for quality credit, with low rates and longer terms. We will continue to work hard to help more and more Brazilians carry out their life projects,” said Fabio Zveibil, vice president of Business Development at Creditas.
The expectation is that Creditas will reach 1,000 employees and triple its revenue by the end of 2019, according to founder and CEO Sergio Furio, as stated in an interview with StartSe.
Read more at StartSe.
Learn more about Creditas:
SoftBank invests $200M in Brazilian fintech Creditas
Brazilian lending platform, Creditas, raises US$55M Series C
