Creditas reaches USD 4.8 bln valuation

Creditas, which provides insurance alongside secured consumer loans and runs an online used-car sales platform, had raised USD 260 million from some existing and new shareholders. Fidelity Management and Research and Greentrail Capital were named among the new investors, alongside existing backers VC firm QED Investors, Sweden’s VEF, and Japanese tech conglomerate SoftBank.

The financing comes little over a year after the privately held company gained ‘unicorn’ status with a USD 255 million fundraising that valued it at USD 1.75 billion.

Founded in 2012, Creditas employs more than 4,000 people and also offers services in Mexico. Across six fundraising rounds, it has raised total equity of USD 829 million.

The group’s revenues increased more than two times to USD 100 million in the first nine months of 2021, compared with the same period of 2020.