BS2 Bank merges with WELL to offer B2B lending services

Tuesday 8 June 2021 13:40 CET | News

BS2 Bank has announced the acquisition of the fintech WEEL, a B2B online lender focused on financing Brazilian companies.

WEEL is a data and credit fintech that specialises in solutions for small and medium-sized companies. The company uses machine-learning technology to create credit solutions for SMEs.

The fintech's technology will be incorporated into BS2, including its origination platform, data, and machine learning systems. WEEL's staff will be fully integrated to BS2. Moreover, WEEL's current shareholders, such as Monashees Capital and Franklin Templeton, will become BS2 shareholders after the approval of regulatory competent agencies.

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Keywords: banks, fintech, merger, neobanks, SMEs
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Brazil
This article is part of category

Banking & Fintech