LatamList – Pontte, a Brazilian property startup, raised a $29M (R$160M) funding round to reinvent real estate loans. The investors were not disclosed.
Pontte provides credit loans for mortgages. The startup aims to bridge the gap between the average borrower and traditional credit institutions, which often charge large interest rates on loans.
The startup gives customers the ability to choose their own paydays for each installment, and also lets them select a month of the year to skip a payment when they might be short of money.
The funding round comes at a time when interest rates are at an all-time low due to the economic fallout of the COVID-19 pandemic. As a result, more people are searching for properties and mortgages, thus boosting business for Pontte.
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