Brazilian fintech Velotax raised $23M in a Series A round. QED Investors, Valor Capital, and Picus Capital participated in the round.
Velotax automates income tax filing, offers tax refund anticipation, and provides AI-driven personal and payroll-deducted loans.
Velotax will use the funds to expand its credit offerings.
“The AI allows us to see beyond the traditional credit score. We analyze hundreds of variables to offer responsible credit, with proposals compatible with the real payment capacity,” said Velotax co-founder Victor Savioli.
Velotax’s app has been downloaded over 3 million times in Brazil.
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