Creditas announces R$60 million series B investment round

Online credit platform Creditas, announces the closing of a Series B investment round of R$60 million to accelerate the expansion of the asset backed credit in the country. The business plan includes the development of new channels for mass distribution and the reduction of the minimum interest rates of auto equity loans from 2.15% to 1.99% per month.

Creditas (ex-BankFacil) is a digital credit platform focused on secured loans, whose mission is to reduce high-interest expenses in Brazil. Based in São Paulo, Creditas has over 120 employees and uses technology and data intelligence to generate efficiency and reinvent the borrower’s experience. Its hybrid funding model allows it to originate loans using residences or vehicles as collaterals, utilising resources both from institutional investors and financial institutions. Creditas is supported by venture capital funds Redpoint eVentures, Kaszek Ventures, Quona Capital, QED Investors, IFC (World Bank Group), and Naspers Fintech.