Online lender Creditas agreed yesterday to buy Brazil-based digital real estate financing platform Bcredi for an undisclosed amount, providing an exit for financial services firm Banco Bari.
Founded in 2017 as the digital arm of Banco Bari, Bcredi was spun off the following year by co-founder and CEO Maria Teresa Fornea Caron, who will be appointed vice-president of real estate credit for Creditas once the acquisition closes.
Bcredi provides mortgages and home equity loans to customers in Brazil, with a focus on the business-to-business-to-consumer and lending-as-a-service business models. Banco Bari maintained a stake in the company that it will sell as part of the deal.
Creditas has acquired the company to strengthen its real estate financing offering. Bcredi will continue to operate under its brand over the coming months, while its teams will be integrated into gradually into Creditas over 2021.
Venture capital firm e.Bricks Ventures had provided an undisclosed amount of series A funding for Bcredi in April 2019.