Frete.com, the road freight transportation platform, has partnered with BTG, Brazil’s largest investment bank, to launch a receivable investment fund worth R$300M ($60.8M).
This fund offers small freight carriers that operate on Frete’s platform “Fretebras” working capital loans to help them grow. These carriers have a much harder time getting loans in the financial sector.
“We have an extensive database that allows us to evaluate credit risk on a large scale and integrate the offering within the cargo journey on our digital marketplace,” said frete.com’s CFO, Daniel Ferraz.
Fretebras processes ~$20.2B annually in payments to truck drivers for 17,000 small carriers across Brazil.
The fund will begin operations in August of this year, managed by Poligono Capital, a joint venture between BTG and Prisma Capital.
