Brazil-based online lender Creditas has secured $255m in funding from investors including telecommunications and internet group SoftBank’s Vision Fund I and Latin America Fund, TechCrunch has reported.
LGT Lightstone, Tarsadia Capital, Wellington Management, E.ventures, Sunley House Capital, VEF, Kaszek Ventures and Amadeus Capital Partners also took part in the round along with an affiliate of Advent International. The company has now raised $569m in total.
Formerly known as BankFacil, Creditas runs an online platform where users can access loans with better rates than those generally offered through conventional services. The round pushed its valuation up to $1.75bn, compared to $750m in its July 2019 series D round.
The company raised $231m in the series D round, which was led by SoftBank’s Latin America Fund and backed by Vision Fund and Santander InnoVentures, the investment vehicle for financial services firm Santander since spun off into Mouro Capital.
Amadeus Capital Partners and Vostok Emerging Finance rounded off the series D consortium. Both took part in a $55m series C that closed in 2018, with Santander InnoVentures, media and e-commerce group Naspers’ Fintech fund, Kaszek Ventures, Quona Capital, QED Investors and International Finance Corporation.
Another Naspers vehicle, Naspers Ventures, was among the company’s earlier investors, as were International Finance Corporation, Redpoint eVentures, Kaszek Ventures, Quona Capital and QED Investors.
