Brazil-based BizCapital raises USD 12 mln for online lending service

Thursday 18 June 2020 14:31 CET | News

Online lender BizCapital has raised USD 12 million from investors to develop its online lending service.

The funding’s participants include the German development finance institution, the corporate venture capital fund of MercadoLibre, and existing investors Quona Capital, Monashees, Chromo Invest, and 42K Investments.

The company said it would use the money to develop new products for Brazilian small and medium-sized businesses and will expand into new distribution channels. Founded in 2016, the company provides a way to access financing for working capital. It has more than 5,000 customers across 1,200 cities in Brazil, according to TechCrunch.

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Keywords: BizCapital, Brazil, online lender, online lending, funding, investment, German development finance institution, MercadoLibre, Quona Capital, Monashees, Chromo INvest, 42K Investments, SME, financing , working capital
Categories: Banking & Fintech
Countries: Brazil
This article is part of category

Banking & Fintech