LatAm List – Japanese investor, Softbank, is reportedly in conversations with Brazilian fintech, Creditas, regarding a potential $230M investment in a joint effort from their Vision Fund with support from the Latin America-focused Innovation Fund.
This negotiation is still under consideration and Softbank could still back out, according to Bloomberg. Softbank is also in the process of finalizing a $1B deal with Colombian delivery unicorn, Rappi, from their newly-launched $5B Innovation Fund.
Creditas raised over $63M in 2017 over two rounds. Their technology provides secured loans online at much lower rates than Brazilian banks with a default rate below 1%.
Creditas’ previous investors include Banco Santander SA’s InnoVentures, Amadeus Capital Partners, Quona Capital, and Vostok Emerging Finance.
Read more in Bloomberg.