Brazilian fintech Stone secured $54M in financing from IDB Invest, the private-sector arm of the Inter-American Development Bank. The investment follows Stone’s $467M round in December 2023.
Stone provides financial services to underserved businesses, aiming to reduce barriers and bureaucracies that hinder small business growth outside major urban centers.
Stone will use the funds to offer tailored credit solutions that match the challenges faced by entrepreneurs in the Amazon, with a focus on promoting female entrepreneurship.
“Stone offers credit solutions with a model that automatically withholds a percentage of sales to streamline financial management and ensure that payments are aligned with the business’s cash flow,” says Diego Salgado, the company’s Treasury Director.
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