Creditas, a Brazil-based online collateral loan platform, has raised a Series E infusion of USD 255 million.
The round turns the startup into the newest Brazilian unicorn, with a valuation of USD 1.75 billion, one of the most capitalised fintechs in Latin America. The company will use the new resources to continue expanding the offer of its products, forming a complete ecosystem of digital financial services that go beyond secured loans and scaling operations. In addition to Brazil, Creditas has also started to operate in Mexico.
The round brings new international partners to the fintech’s board, including LGT Lightstone, who led the investment, alongside Tarsadia Capital, Wellington Management, e.ventures, and Advent International via its affiliate Sunley House Capital. To date, Creditas has raised USD 570 million in five investment rounds.
Since the Series D round of USD 231 million in July 2019, the startup has more than tripled its revenue, reached BRL 1 billion in credit portfolio, and announced new products. After eight years, the company started taking steps towards internationalisation in Latin America, starting with Mexico in November 2020.
In Mexico, five products are already active: car financing; the concession of credit with cars, real estate properties, and salary as collaterals; and Creditas Store, the shopping platform that allows consumers from partner companies to buy online using their salaries as means of payments, with some regulatory differences compared to Brazil.
The complex regulatory environment of the credit market is one of the reasons why the startup took eight years to debut in its first international market.
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