Fintech in Latin America continues to draw big dollars as SoftBank invests $231 million in Creditas
As investors continue to move more aggressively into Latin America’s startup scene, there’s one industry that seems to be drawing more attention than any others — financial services.
As wealth across the region continues to rise, access to adequate financial services — specifically debt — has become a pain-point for an upwardly mobile middle class that wants to be more entrepreneurial and have more financial tools than straight cash at their disposal.
That’s what’s driven companies like Nubank, the Brazilian consumer credit card behemoth, to valuations of roughly $4 billion; and it’s also what contributed to Creditas, a provider of secured loans, raking in $231 million in new financing from the SoftBank Vision Fund and SoftBank Group. Previous investors Vostok Emerging Finance, Santander InnoVentures and Amadeus Capital also participated in the round.
Founded by Sergio Furio in 2012, the company started as an originator of loans to Brazilian customers who were willing to offer up collateral in exchange for lower interest rates on their debt. Back in 2017, the company became more of a fully integrated lender for the entire process.
Thanks to investments from local and
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