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Fintech Creditas to raise USD 200 mln

Monday 11 July 2022 12:29 CET | News

Brazil-based fintech Creditas has announced it is currently working with investors to raise USD 200 million, while planning to buy financial institutions such as banks and mortgage starups.

The startup was founded in April 2012 and is currently valued at nearly USD 4.8 billion. However, various other media sources report that in the valuation scheme of the US Stock Exchange, the company’s market value reaches around USD 10 billion.

With offices in Brazil, Spain, and Mexico, Creditas plans to buy Brazilian banking license of Andorra-based Andbank, which would enable the company to operate as a bank in the country. Through the acquisition, Creditas aims to enhance its portfolio, from online consumer loans provider to a financial institution, which further implies investments and credit.

The licensing deal is valuated at almost USD 100 million but can only move forward with Brazil’s central bank, Banco Central do Brasil, and the watchdog CADE’s approval. 

The fintech’s biggest round of investment ended in June 2019, when it raised around USD 171 million from Japanese investment group SoftBank, with the participation of Vostok Emerging Finance, Amadeus Capital, and Santander InnoVentures. The company currently provides financial credit products and loans with properties as guarantee (home loans), as well as vehicle guarantee loans up to around USD 28,500.


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Keywords: funding, crowdfunding, fintech, financial institutions, banking license, rebranding
Categories: Banking & Fintech
Companies: Creditas, Santander, SoftBank
Countries: Brazil
This article is part of category

Banking & Fintech

Creditas

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Santander

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SoftBank

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