LatAm List – IOUU, the Brazilian lending marketplace for small businesses, raised a $1.3M (R$6M) funding round led by DOMO Invest with contributions from Indicator Capital and Devas Invest.
IOUU is a peer to peer (P2P) online equity raising platform working to reinvent traditional financial and lending services for small businesses. Via the online platform, individual investors can give micro-loans to small businesses with a small borrower’s interest fee.
The platform provides simpler, faster, and cheaper funding solutions to startups that may otherwise be overlooked by traditional banking systems. IOUU also helps to reduce investment risk for startups by performing credit risk analysis and document verification.
Founders Bruno Sayão and Ricardo Gobbo took the idea for IOUU to the Brazilian accelerator program Artemisia in 2017. They have since been developing the platform which now manages $3.4M (R$15M) in loans with 11,000 investors.
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