Brazil-based online lender Creditas secured $50m in series C funding on Monday from investors including media and e-commerce group Naspers, which invested through its Naspers Fintech unit according to TechCrunch.
Investment firm Vostok Emerging Finance led the round with a $25m commitment. Kaszek Ventures, Quona Capital, QED Investors and International Finance Corporation (IFC), the private sector arm of the multilateral financial institution World Bank, also participated.
Founded in 2012, Creditas has created an online consumer loans platform that offers financing options secured against collateral such as a car or a home. The funding will enable Creditas to develop additional products and enter new market segments.
The company was originally known as BankFacil, but rebranded in February 2017 when it raised $19m in a series B round backed by Naspers’s corporate venturing subsidiary Naspers Ventures as well as IFC and Redpoint eVentures.
Creditas had previously received $9.8m in funding in total, closing a $7.2m series A round in June 2016 that included Redpoint eVentures, Kaszek Ventures, Quona Capital and QED Investors.